Alright guys I have recently purchased a fuel pressure regulator. I do not know how to install one of these. I am new to carbs what do I need to do.

Basically, you have an inlet and an outlet for fuel flow. Then you have an adjustment screw or something similar.
Connect a fuel pressure gauge between the outlet and and the carb or fuel injectors. Turn on engine and adjust to desired pressure. Caution: electric fuel pumps put out very high pressures for fuel injection.

If you have a regulator with a return line.  The fuel line comes in one side and goes out the other side, and the return line goes out the bottom, with adjustment on top.  The pressure guage would mount on the visible side, with mount for pressure regulator on back side.  Tracker fuel pumps can go at least up to 90 psi deadheaded which was where the pressure regulator was set.  There was a vacuum line fitting on the one I installed, and it is connected to a vacuum port on motor after initial setting w/o it.