You bought an early alpha that's incredibly un-optimized. Do you even read the early access message that you have to click " I UNDERSTAND" when you start the game??
Try searching reddit or the official forums for graphics tweaks that have been around since Arma2.
Down voted for the sheer ignorance of the OP

You have to wait for game optimizations.

You may find the following useful. It gave me a boost of about 15fps in major cities: http://dayzintel.com/dayz-standalone/dayz-standalone-performance-guide

If that does not work, then I would suggest waiting for a performance patch. I am doubtful that a refund is possible, but Steam support can tell you.

did you honestly think you would be able to run this game with a BAD laptop graphics card? foolish and downvoted

What the hell do I care if you down vote my topic in a dayz forum? Why is everybody getting so damn mad about this shit. One person was actually helpfull, the rest of you just came in to waste your time.

I feel your pain. My PC may be prebuilt but it runs anything i throw at it just fine. I'm not a genius with computers but I can see patterns. The only 2 games I've had frame rate issues are Dayz and Infestation, I think Guyver1 and spin7ion are right about it not being optimized.

MrSammers, I remember reading a post somewhere, did have a quick look for you, but unable to find it at the moment unfortunately.
But it read something along the lines of, you will need to contact where ever you bought it from (Steam or the Bohemia Interactive store) and ask them.
Personally I do not like your chances as there were adequate warnings about the game from Rocket before you where able to purchase.
Best of luck on your venture..

[edited for spelling error]

You sir, are a cretin. 1 for trying to run it on such TERRIBLE specs and 2 for paying into an ALPHA which has no optimizations done to it and then complaining about bad FPS? God damn you're a special kind of stupid.