It could.
Could be a few different things. Spark Plug, plug wire, coil, injector, ignition module (these are most common) Head gasket, cracked intake, mechanical (ie valve,piston,cam etc) (less common)
It can.
try a tune up, make sure valve cover gasket is not leaking into #4 spark plug tube,check spark plug wires and coil.
Buy gasket paper off eBay. This will stop blowing and make it run.
You cant do it. The head gasket is the most important gasket in the engine and it is very specially made.
I would make sure power is getting to the fuel injector use a noid light to test it. You may also want to check the fuel pressure also the intake manifold may have a leak that can cause a misfire as well. Glad your compression is good. That is a sure sign its something simple.
Not unless you have a water cooled intake manifold, which is very rare on a car.
A failing cylinder
Repairing the head gasket on a 1994 Isuzu Trooper involves several steps. First, you need to remove the intake and exhaust manifolds, as well as the cylinder head. After ensuring the surfaces are clean and flat, replace the old gasket with a new one, reassemble the components in the reverse order, and torque everything to the manufacturer's specifications. Make sure to check for any signs of warping on the cylinder head and replace it if necessary.
Check your spark plug connections and spark plugs. If necessary, replace them.
Coolant getting into a combustion chamber. Probably a bad head gasket or intake manifold gasket.
Defective plugs, bad plug wires, blown head gasket, burnt valve, blown intake manifold gasket, serious vacuum leak, or severely worn piston rings. The computer could be bad as well, I had one that would randomly make the car run like crap(misfire included) a quick tap with a screwdriver would either fix it or make the car stall, replacing the computer corrected the problem (90 cavalier 3.1L)