If A and B are two events such that P(A)=(3)/(4) and P(B)=(5)/(8) ,...

If $A$ and $B$ are two events such that $P(A)=\frac{3}{4}$ and $P(B)=\frac{5}{8}$, then consider the following statements : 1. The minimum value of $P(A \cup B)$ is $\frac{3}{4}$. 2. The maximum value of $P(A \cap B)$ is $\frac{5}{8}$. Which of the above statements is/are correct?