The diameter of the base of the cone is 8 inches, which means that the radius is 4 inches (since radius is half of the diameter).
The height of the cone is twice the radius, which means the height is 2 x 4 = 8 inches.
To find the volume of the cone, we use the formula V = (1/3)πr^2h, where V is the volume, r is the radius, and h is the height.
Substituting the values we found, we get:
V = (1/3)π(4^2)(8)
V = (1/3)π(16)(8)
V = (1/3)π(128)
V = 42.67 cubic inches (rounded to two decimal places)
Therefore, the volume of the cone is approximately 42.67 cubic inches.