Yes, that is correct. The decimal value of pi is an infinite decimal that never repeats, and it can be rounded to different numbers of decimal places depending on the required precision. The value 3.1415926535897932 is often used as an approximation for pi to 16 decimal places. However, it is important to note that the exact value of pi cannot be expressed as a finite decimal or a fraction, and it has been the subject of study in mathematics for thousands of years.