PPI is the preferred term when dealing with resolution and stands for pixels per inch. This is very specific, as it states exactly how many pixels are in each inch of the picture. If your spec sheet called for 300, then they are more than likely using DPI and PPI interchangedly. You can easily set the PPI in Photoshop by going to Image > Image Size and then entering the desired PPI in the resolution input box (pixels/inch). Remeber that 72 PPI is the standard for web graphics and 300 (or up) should usually be used for print jobs.
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