To simplify the given expression, we need to follow the order of operations (PEMDAS/BODMAS). First, simplify the expression inside the parentheses, then raise it to the power of 3, and finally divide by 2.
Step 1: Simplify Inside the Parentheses
First, we simplify the expression inside the parentheses:
\[
2 - 2^2 = 2 - 4 = -2
\]
Step 2: Raise the Result to the Power of 3
Next, we raise the result from Step 1 to the power of 3:
\[
(-2)^3 = -8
\]
Step 3: Divide by 2
Finally, we divide the result from Step 2 by 2:
\[
\frac{-8}{2} = -4.0
\]