When you open a raw file (.dng, .cr2, .raw or whatever format your camera chooses) photoshop will open this dialogue box:
Note the important areas: Navigation side (if you open multiple images), Tool Bar (zoom and crop), Histogram, and your basic image editing tools.
From here you may edit your images, however you do three things, either open the image in photoshop (for further editing), save the image (bypassing photoshop), or click done and leave the updated RAW file in place.
Don’t forget the little blue bar at the bottom that lets us change the bit depth to 16
So, for this assignment open your raw image, edit it, now open it up in photoshop.
From here go to File/Save as… to save this as a PSD
Hope this helps, email me with any questions!