Cannot run Android Emulator in Android Studio 2.1.1

Question

I just re-installed Android Studio 2.1.1 on the same PC running Windows 7 32-bit after a year. Everything other than the emulator works perfectly.

The AVD Manager displays an error message: /dev/kvm is not found. When I click on the Troubleshoot button, it says

Enable VT-x in your BIOS security settings, ensure that your Linux distro has working KVM module.

Also, when I try running an emulator, an error pops up saying

Intel HAXM is required to run this AVD.

/dev/kvm is not found.

Enable VT-x in your BIOS security settings, ensure that your Linux distro has working KVM module.

I have disabled VT-x, but I can't find Hyper-V anywhere on my PC. Intel x86 Emulator Accelerator (HAXM installer) is installed. After looking for solutions online, I tried to install HAXM manually using the installer available on their website (Installer) but I got an error saying

Failed to configure driver: unknown error. Failed to open driver

Here are some of the StackOverflow questions that I referred to:

Android Emulator Error in windows

HAXM installed successfully, but not recognized by Android Studio 2.1

Intel HAXM installation error - This computer does not support Intel Virtualization Technology (VT-x)

Solution

Your machine might not even support Virtualization.
To fix this, you just have to run the emulator with the system image armeabi.
Go to your Android Virtual Device Manager, and create a new device. Select your hardware, then click next. Here, it is very important to select a system image with the ABI column saying "armeabi" or "armeabi-v7a". It should look like this: Continue with the steps, and your emulator should work and run properly.