answer all questions with explanation

Assume that Sophia and John have the following value function over exam scores: v(x) - x/2 for gains wx) = 2x for losses Both of them use the expected exam score as their reference point. 1. Sophia expects to score 75 out of 100 on her upcoming midterm exam. What is her gain, in terms of value, if her final score is 93? 2. John also expects to score 75 out of 100 on his upcoming midterm exam. What is his loss, in terms of value, if his final score is 67? 3. If you use your expectation as a reference point, should you set high or low expectations for yourself