The correct formula for interpreting the probability of the union of two events \( A \) and \( B \) is:
\[ P(A) + P(B) - P(A \text{ and } B) \]
This formula accounts for the probabilities of each event occurring and subtracts the probability of their intersection to avoid double counting the cases where both events occur.
So the correct response is:
P(A) + P(B) − P(A and B)