cooking/ measurement
food/ cutting
car racing
clock/ time/dividing time schedule
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Yes, we can. And in most cases, they are easier than using mixed fractions.
By using the decimal numbers, you are now using the concept of fraction. There are some situation where we can apply the fraction, for example, cooking, medicine, sewing and tailoring :)
There is no such example. If you cannot use an exact fraction then there will not be an exact decimal that you can use instead. And, if you are using an approximate decimal, you could use an approximate fraction instead.
A half life may or may not be a fraction. The half life of carbon 14, for example, is 5715 years - not really a fraction, unless you are thinking in terms time periods which are much longer than a year.
compare with random fraction to a benchmark fraction. to tell if a fraction is less or greater than another fraction.