  Let $D_\lambda^{d,k}$ denote the family of diagonal hypersurface over a
finite field $\mathbb{F}_q$ given by \begin{align*}
D_\lambda^{d,k}:X_1^d+X_2^d=\lambda dX_1^kx_2^{d-k}, \end{align*} where
$d\geq2$, $1\leq k\leq d-1$, and $\gcd(d,k)=1$. Let $\#D^{d,k}_\lambda$ denote
the number of points on $D_\lambda^{d,k}$ in $\mathbb{P}^{1}(\mathbb{F}_q)$. It
is easy to see that $\#D_\lambda^{d,k}$ is equal to the number of distinct
zeros of the polynomial $y^d-d\lambda y^k+1\in \mathbb{F}_q[y]$ in
$\mathbb{F}_q$. In this article, we prove that $\#D^{d,k}_\lambda$ is also
equal to the number of distinct zeros of the polynomial
$y^{d-k}(1-y)^k-(d\lambda)^{-d}$ in $\mathbb{F}_q$. We express the number of
distinct zeros of the polynomial $y^{d-k}(1-y)^k-(d\lambda)^{-d}$ in terms of a
$p$-adic hypergeometric function. Next, we derive summation identities for the
$p$-adic hypergeometric functions appearing in the expressions for
$\#D^{d,k}_\lambda$. Finally, as an application of the summation identities, we
prove identities for the trace of Frobenius endomorphism on certain families of
elliptic curves.
