The average prices for a product in twelve stores in a city are shown below.
$1.99, $1.85, $1.25, $2.55, $2.00, $1.99, $1.76, $2.50, $2.20, $1.85, $2.75, $2.85
Test the hypothesis that the average price is higher than $1.87. Use level of significance α = 0.05.