Step 1 :Given the area of the circle as \(0.5024\) square inches, we can use the formula for the area of a circle to find the radius: \(Area = \pi r^2\).
Step 2 :Substitute the given area and \(\pi = 3.14\) into the formula: \(0.5024 = 3.14r^2\).
Step 3 :Solve for the radius (r): \(r \approx 0.4\) inches.
Step 4 :Next, use the formula for the circumference of a circle: \(Circumference = 2 \pi r\).
Step 5 :Substitute the radius and \(\pi = 3.14\) into the formula: \(Circumference = 2(3.14)(0.4)\).
Step 6 :Calculate the circumference: \(Circumference \approx 2.512\) inches.
Step 7 :Round the circumference to the nearest hundredth: \(\boxed{2.51}\) inches.