I have a point $(X,Y)$ on an elliptical curve $E(a,b)$ where $a=-3$ and $B$ is a large number that is in hexadecimal from -51BD. To compress this point oficially in a program, we know that every $X$ on the curve has two $Y$'s, one even and one odd. Therefore, we only need to store whether the corresponding $Y$ point we are storing is even or odd. So to store the point $(X,Y)$ now, we shift $X$ ridding of its most significant bit and add $1$ if the $Y$ point is odd. Therefore, one can think of the compressed point being $2 \cdot X+B$ ($B$ is the bit we added to tell if $Y$ was odd or even) since the multiplication by $2$ is implied because of the shift. I understand this completely. It's recovering the original point that has me confused.
Since a point on the curve is given by the equation $y^2=x^3+ax+b$, we can find square roots officially in $\mathrm{GF}(p)$. The following from my spec is what confuses me.
If $p$ is prime and congruent to $3$ mod $4$, one of its square roots is $z^{(p+1)/4} \bmod p$ and the other is $p-z^{(p+1)/4} \bmod p$. How would I solve this? What is $z$?
For example, I know how to extract the $x$ point so let's say I simplify the right side of the equation to be $7$ and $p$ is $11$. Would I be trying to solve for the square root that's equal to $7$ mod $11$?