Find the value of $z$ such that 0.04 of the area lies to the left of $z$. Round your answer to two decimal places.
Answer
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Step 1 ：This is a problem of finding the z-score in a standard normal distribution. The z-score is the number of standard deviations a particular score is from the mean. In this case, we are given that 0.04 of the area (or probability) lies to the left of z. This means that z is the 4th percentile of the standard normal distribution.

Step 2 ：We can use the percent point function, which is the inverse of the cumulative distribution function. It returns the z-score for a given percentile.

Step 3 ：Let's denote the percentile as p. So, p = 0.04.

Step 4 ：By using the percent point function, we find that z = -1.75.

Step 5 ：Final Answer: The value of \(z\) such that 0.04 of the area lies to the left of \(z\) is \(\boxed{-1.75}\).