Because there are variations between the 2.2L and the 3.4L engines, you'll need to consult a repair manual specific to your Alero's engine size. A repair manual (Chilton's, Haynes, or a factory service manual) with diagrams will give you the most precise location. Searching online for "2003 Oldsmobile Alero [2.2L or 3.4L] engine diagram" may also help visualize its position.
Important Note: Do not attempt to diagnose or replace the sensor without a proper understanding of automotive systems and safety precautions. Incorrect handling could lead to injury or further engine damage.