Step 1 :We are given a value from the dataset, $X=40$, the mean of the dataset, $\mu=36.3$, and the standard deviation of the dataset, $\sigma=39.8$.
Step 2 :We are asked to calculate the standard score (also known as a z-score), which is a measure of how many standard deviations an element is from the mean.
Step 3 :The formula to calculate the standard score is $Z = \frac{X - \mu}{\sigma}$.
Step 4 :Substituting the given values into the formula, we get $Z = \frac{40 - 36.3}{39.8}$.
Step 5 :Solving the equation, we find that $Z = 0.0929648241206031$.
Step 6 :Rounding to two decimal places, we find that the standard score of the given $X$ value is approximately \(\boxed{0.09}\).