The document describes how to calculate the area of a circle with a diameter of 2 feet using the standard formula of A = πr^2 as well as an ancient Egyptian method. The Egyptian method involves drawing an octagon inside the circle and calculating its area, which turns out to be approximately 7/9 of the area of the square enclosing the circle, equivalent to 3.11 square feet compared to the exact value of 3.14 square feet using the pi-based formula. This Egyptian method produces a result that is remarkably close to the correct value, with only about a 1% error.