Android Studio - supplied javaHome is not a valid folder

Question

I decided to update my JDK to Java 8, and installed to the default location of C:\\Program Files\\Java\\jdk1.8.0 with a jre subdirectory.

I

Answer 1

For Android Studio 1.1.0, after right-clicking on the project:
Select Open Module Settings
Select SDK Location at top left
Type text into JDK Location: box