shorthand assignments operators, how do they work?

Question

Can someone help explain how shorthand assignment operators

Answer 1

x += y # x=x+y
x -= y # x=x-y
x *= y # x=x*y
x /= y # x=x/y
x %= y # x=x%y
x **= y # x=x**y

It's quite nicely covered in the Ruby tutorial

Answer 2

@pixie is x**y =x*x*y or x* (*y) where (*y) is a pointer?