What is the hoop moment of inertia formula and how is it used in physics?

The formula for the hoop moment of inertia is I mr2, where I is the moment of inertia, m is the mass of the hoop, and r is the radius of the hoop. In physics, the moment of inertia is a measure of an object's resistance to changes in its rotational motion. It is used to calculate the rotational kinetic energy and angular momentum of a rotating hoop.