Here's how you can change the android sdk path in Android studio:
- Open your required android project in Android studio
- Click on the main project folder and press F4
- Now click on "SDKs" under Platform Settings (Left hand side of the dialog box)
- You should now see a plus sign on the top, click it and choose "Android SDK"
- Now you would be asked to choose the required SDK folder
- Select the required build target(if necessary) and click "ok"
- Now you should see the new entry in the list of SDKs
- Click "Modules" under Project Settings
- Select your project folder and in the Dropdown for "Module SDK", select the new SDK entry and click "apply"
- Now click "OK" and your done.
Note: If changes do not take effect, restarting android studio should fix the problem.