It makes the preceding consonant "soft"--you pronounce it with the back-middle of the tongue higher in the mouth. The second word is znak (Spanish-sounding "a"), although "snot" is more appropriate, IMHO. Znak (знак) means "sign" or "symbol." Don't listen to me, really, as I'm not much good at pronouncing or hearing them either.
Good luck w/ the typing, too! (Fortunately for me, that's something I can already do. The course would be slow going, otherwise.)
Где мой велосипед?
It is very similar to what you do in English, minus the zero copula in present tense. That is, when telling where something is or what it is, we use "to be" in the past and the future—but in the present, we use nothing. Empty space is rather efficient :)
Also, Russian usually does not change the word order for questions, meaning that the verb remains where it is. A question word usually goes first, though.
Okay, so ь (also called the soft symbol) doesn't have a sound of its own but rather it influences the sound of the consonant that came before it. We say that it changes the consonant from being "hard" to "soft" or "palatised" to "non-palatised".
What that means in practice is ь makes you pronounce the previous consonant with the middle of your tongue pushed up to the roof of your mouth, giving it a sort of breathy sound.
This phenomenon does happen a little bit in English already with some consonants coming before an "ee" sound. Compare the difference in "k" sound between "car" and "key", and "t" sound between "tar" and "tea". That will help you start to see what effect the soft symbol has.