Solution:

Partition the disk:

fdisk /dev/sdb

Inside fdisk:

n = new partition

p = primary

1 = partition number

accept defaults

size +700M

t = change type

set Linux LVM type

w = write changes

Create the physical volume:

pvcreate /dev/sdb1

Create the volume group:

vgcreate vg_data /dev/sdb1

Create the logical volume:

lvcreate -L 500M -n lv_data vg_data

Create the filesystem:

mkfs.xfs /dev/vg_data/lv_data

Detailed Explanation:

The lab specifies a 700 MB partition and a 500 MB logical volume.

pvcreate initializes the partition for LVM.

vgcreate builds the storage pool.

lvcreate allocates space from the volume group.

mkfs.xfs creates the filesystem, which is standard on RHEL.