Step 1: Determine the general form of a polynomial of degree 2.
A polynomial of degree 2 can be written as $P(x) = ax^2 + bx + c$.
Step 2: Find the first and second derivatives of $P(x)$.
The first derivative is $P'(x) = 2ax + b$.
The second derivative is $P''(x) = 2a$.
Step 3: Use the given conditions to find the coefficients $a, b, c$.
Given $P''(2) = 2$:
\[ 2a = 2 \implies a = 1 \]
Now, $P'(x) = 2(1)x + b = 2x + b$.
Given $P'(2) = 0$:
\[ 2(2) + b = 0 \implies 4 + b = 0 \implies b = -4 \]
Now, $P(x) = (1)x^2 + (-4)x + c = x^2 - 4x + c$.
Given $P(2) = -1$:
\[ (2)^2 - 4(2) + c = -1 \]
\[ 4 - 8 + c = -1 \]
\[ -4 + c = -1 \]
\[ c = 3 \]
So, the polynomial is $P(x) = x^2 - 4x + 3$.
Alternative Step 3 (Using Taylor expansion around $x=2$):
A polynomial can be expressed using its Taylor series expansion around a point $x_0$:
\[ P(x) = P(x_0) + P'(x_0)(x-x_0) + \frac{P''(x_0)}{2!}(x-x_0)^2 + ....... \]
Since $P(x)$ is a degree 2 polynomial, higher order derivatives are zero.
Given $x_0 = 2$, $P(2) = -1$, $P'(2) = 0$, $P''(2) = 2$.
\[ P(x) = P(2) + P'(2)(x-2) + \frac{P''(2)}{2}(x-2)^2 \]
\[ P(x) = -1 + 0(x-2) + \frac{2}{2}(x-2)^2 \]
\[ P(x) = -1 + (x-2)^2 \]
This simplified form of $P(x)$ is equivalent to $x^2 - 4x + 4 - 1 = x^2 - 4x + 3$.
Step 4: Evaluate $P(1.001)$.
Using the simplified form $P(x) = (x-2)^2 - 1$:
\[ P(1.001) = (1.001 - 2)^2 - 1 \]
\[ P(1.001) = (-0.999)^2 - 1 \]
\[ P(1.001) = (0.999)^2 - 1 \]
We can write $0.999$ as $(1 - 0.001)$.
\[ P(1.001) = (1 - 0.001)^2 - 1 \]
Expand $(1 - 0.001)^2$:
\[ (1 - 0.001)^2 = 1^2 - 2(1)(0.001) + (0.001)^2 \]
\[ = 1 - 0.002 + 0.000001 \]
Substitute this back:
\[ P(1.001) = (1 - 0.002 + 0.000001) - 1 \]
\[ P(1.001) = -0.002 + 0.000001 \]
\[ P(1.001) = -0.001999 \]