ipad and Touch share same itunes library

Hello All

Windows 7 Prof 32bit PC

iTunes v 12.3.0.44

iPod Touch 5th Gen iOS v 7.1.2

iPad Air - hasn't arrived yet

I have an iPod Touch, 5th gen, and I just purchased an iPad Air. I will be using both devices. I'm assuming that both of my devices can share the same iTunes library on my PC.

I will be using both of them for different purposes and don't want them to be identical in content but do want them to share some of the apps and content.

Can someone please point me to where I can find instructions on how to set up my new iPad and do what I want to do.

Thanks

Barb