How to Setup Home Page?

Go to Pages > Add New > Create a Page Named Home ( the name could be anything you like).
On the Right Side Under the Template, the drop-down Menu is for Choosing the Home Page.

You have to Choose the Template and publish it.

2. How to Assign Home Page as a FrontPage?

From your dashboard, go to the Setting > Reading > Home Page Displays

Click on the radio button of your A Static page

Click on Save Changes.