Let's use order of operations (PEMDAS)...
2^3 - 8 / 4 x 2 + 7
First, solve the exponent (E in PEMDAS as there are no parenthases).
2^3 = 2 * 2 * 2 = 8
Now we have 8 - 8 /4 x 2 + 7.
Next, multiply/divide (whichever comes first left to right).
8/4 = 2
8 - 2 x 2 + 7...
2 x 2 = 4
8 - 4 + 7
Now, add/subtract (again, left to right).
8 - 4 = 4
4 + 7
11