Step 1 :The problem is asking for a hypothesis test for a proportion. The null hypothesis is that the proportion of college students who identify as procrastinators is 0.93, and the alternative hypothesis is that the proportion is less than 0.93.
Step 2 :The test statistic for a hypothesis test for a proportion is a z-score, which is calculated as \((\hat{p} - p_0) / \sqrt{(p_0 * (1 - p_0)) / n}\), where \(\hat{p}\) is the sample proportion, \(p_0\) is the hypothesized population proportion, and n is the sample size.
Step 3 :In this case, \(\hat{p} = 174 / 194\), \(p_0 = 0.93\), and n = 194.
Step 4 :Substituting these values into the formula gives a z-score of -1.81. This is the number of standard deviations that the sample proportion is below the hypothesized population proportion.
Step 5 :Final Answer: The value of the test statistic is \(\boxed{-1.81}\).