Question: What is the correct syntax for replacing the string apple in the list with the string orange?

1. `orange = my_list[1]`
2. `my_list[1] = 'orange'`
3. `my_list['orange'] = 1`
4. `my_list[1] == orange`

Answer: The correct answer of the above question is Option B:`my_list[1] = 'orange'`