The quadratic equation that best fits the data, based on the quadratic regression, is:

$y = -0.380x^2 + 17.000x - 0.000$

where $y$ represents the profit (in thousands of dollars) and $x$ is the price of the item (in dollars).

Do you want more details or have any questions?

Here are 5 related questions to explore:

1. How would the company's profits change if the price were increased to $45?
2. What is the price that maximizes the company's profits based on this model?
3. How would the company's profits change if the price were decreased to $5?
4. Can this model predict profits for prices outside the given range? What are the risks of extrapolating?
5. What factors, aside from price, could affect the accuracy of this quadratic model in predicting profits?

Tip: Quadratic regression is useful when there is a turning point in the data, which often models maximum or minimum values, like profit maximization in business cases.