Think of looking through a wide-angle security mirror in a hallway or the passenger-side rearview mirror of a car: you see everything upright (erect and virtual) but smaller in size (diminished) so that a wide field of view fits into a compact mirror surface.

V-E-P: Virtual is Erect and Positive ($m > 0$). R-I-N: Real is Inverted and Negative ($m < 0$).

For spherical mirrors, magnification $m = -\frac{v}{u} = \frac{h_i}{h_o}$. A positive sign for $m$ implies $h_i$ and $h_o$ have the same sign, meaning the image formed is erect (above the principal axis) and therefore virtual (since real images formed by mirrors are always inverted with a negative magnification). Furthermore, since the absolute value $|m| = 0.75$ (which is less than $1$), the height of the image is smaller than the height of the object, making the image diminished. A convex mirror always produces virtual, erect, and diminished images for all real positions of the object, resulting in a positive magnification less than $1$.