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Find a floor joist or support beam that can handle the weight of the bag. Keep in mind that the bag will swing, so it's best to install far away from breakable objects and walls.
Be sure to reference the manufacturer's directions and suggestions.
Use a drill to pre-drill into the center of the floor joist or beam.
Install an eyebolt with a long shaft -- by hand for the first few turns, then use a screwdriver as a lever.
Use the chains that were provided with your bag and connect to each corner of the bag. Then carefully lift the bag and connect the S-shaped hook located at the top of the chain to the eyebolt.