Step 1 :The vertex of a quadratic function in the form \(f(x) = ax^2 + bx + c\) is given by the point \((-\frac{b}{2a}, f(-\frac{b}{2a}))\). The axis of symmetry is the vertical line \(x = -\frac{b}{2a}\). The graph is concave up if \(a > 0\) and concave down if \(a < 0\).
Step 2 :In this case, \(a = 2\), \(b = -1\), and \(c = 1\). So, the vertex is \((-\frac{-1}{2*2}, f(-\frac{-1}{2*2}))\) and the axis of symmetry is \(x = -\frac{-1}{2*2}\). Since \(a = 2 > 0\), the graph is concave up.
Step 3 :Let's calculate the coordinates of the vertex and the equation of the axis of symmetry.
Step 4 :\[a = 2\]
Step 5 :\[b = -1\]
Step 6 :\[c = 1\]
Step 7 :\[vertex_x = 0.25\]
Step 8 :\[vertex_y = 0.875\]
Step 9 :\[axis_of_symmetry = 0.25\]
Step 10 :Final Answer: The vertex of the quadratic function is \(\boxed{(0.25, 0.875)}\), the axis of symmetry is \(\boxed{x = 0.25}\), and the graph is concave up.