Android App Development

I have installed Android Studio Bundle (android-studio-bundle-141.2343393-windows). It asked no questions as to whether I am a 32-bit or a 64-bit machine (I am 64-bit Windows 7) so I installed it and let it decide. It installed in the 64-bit directory (C:\Progam Files). Android runs fine until I hit the run button. It then complains (after several minutes&@!!%) that HAXM is not installed or usable. I installed HAXM and I get the same error (after waiting an unbelievable amount of time. I attempted to install another virtual device but I get a big blank screen when selecting Create new device in AVD mgr????