Final answer:
To create the list 'dogs' and replace a value in Python
Step-by-step explanation:
To create the list 'dogs', you can use Python programming language. Here is the code for creating the list with the values 'Rex', 'Spike', and 'Spot':
dogs = ['Rex', 'Spike', 'Spot']
To replace the value 'Rex' with 'Fives', you can use index assignment. Here is the code for replacing 'Rex' with 'Fives':
dogs[0] = 'Fives'