Final answer:
The given code creates a list with elements 2, 4, 6, and 8. It replaces the second element with 3 and prints the modified list.
Step-by-step explanation:
The given code:
mylist = [2,4,6,8]
mylist[1] = 3
print(mylist)
creates a list called mylist with the elements 2, 4, 6, and 8. Then, it replaces the second element (index 1) with the value 3. Finally, it prints the modified list [2, 3, 6, 8].