A quadratic Bézier curve is the path traced by the function $B(t)$, given points $P_0$, $P_1$, and $P_2$.
$$C(t) = \sum _{i=0}^{2}\binom{2}{i} t^i(1-t)^{2-i}P_i$$ $$C(t) = (P_0-2P_1+P_2)t^2+(-2P_0+2P_1)t+P_0 \quad t\in[0,1]$$
What exactly is $P_0$ or $P_1$ or $P_2$ concerning this equation?
Yes they are points. But in my understanding, a point is a pair of numbers (in 2D-space).
Let $P_0$ $=(1,1)$, $P_1 = (1,7)$ and $P_2=(7,1)$.
What values do you use (and where)?
How do you calculate the Bezier Curve for these points?
You can use standard operations on points in natural ways.
Adding (or subtracting) two points: $P_1+P_2$ = $(x_1+x_2,\ y_1+y_2)$
Multiplying (or dividing) a point by a number: $P_1k=(x_1k,\ y_1k)$.
The Bézier curve uses only the standard numerical operators and these two additional abilities.
an example, using your data.
$$C(t) = (P_0-2P_1+P_2)t^2+(-2P_0+2P_1)t+P_0 \quad t\in[0,1]$$
$$C(t) = ((1,1) - 2(1,7) + (7,1))t^2 + (-2(1,1)+2(1,7))t+(1,1)$$
Applying multiplication:
$$C(t) = ((1,1) - (2,14) + (7,1))t^2 + ((-2,-2)+(2,14))t+(1,1)$$
And addition:
$$C(t) = (6,-12)t^2+(0,12)t+(1,1)$$
then we can handle it by components by multiplying and adding some more:
$$C(t) = (6t^2+1, -12t^2+12t+1)$$
Usually you won't see it shown this way, though: The operations described above are considered already natural and straightforward.