A quick, and I believe accurate way to draw a parabola is as follows. This method appies to a parabola as used for a balanced roadway vertical curve):
Draw a polyline from endpoint to VPI to endpoint, then PEDIT>>Spline. For it to be a proper parabola, set SPLINETYPE to 5 before pediting, and to get a smooth curve set SPLINESEGS to 15 or higher. (Thanks to RC McSwain for the Spline/parobola info).