The point (0,0) is the vertex of the function. There is no horizontal or vertical translation between the parent function, y=x^2. Taking the points (7,1) and (-7,1), we find that the coefficient is 1/49, when plugging in values for x and y. 7 squared is 49, and when divided by 49, it gives 1.
The equation is y=1/49 x^2