3:7a And now, O LORD my God, You have made Your servant king in my father David’s place.

“You, (sing) Yahweh my God, have made ⌊me⌋, your (sing) servant, king in my father David’s place.
-or-
“Yahweh, my God, I am your (sing) servant. You have made me the new/next king following/succeeding my father David.

3:7b But I am only a little child, not knowing how to go out or come in.

The Hebrew idiom that the New International Version translates as “how to carry out my duties” is similar to the English idiom “the ins and outs [of something].”

However I am very young and do not know exactly how to rule/lead the people.
-or-
I ⌊realize that I⌋ am still a boy who has not yet learned all the duties/responsibilities ⌊of a king⌋.

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