Statement 1: When a white light ray passes through a prism it disperses into seven different colours, and this phenomenon is called dispersion.
Statement 2: Refraction depends upon the wavelength of light and since different colours have different wavelengths, they are refracted at a different angle.
Statement 1 and statement 2 is correct
Any light that is composed of more than one colour is a composite light.
Dispersion is the phenomenon of splitting up of composite light into its constituent colours. During dispersion white light is split into its 7 constituent colours.
Different colour light have different wavelength and refraction depends upon the wavelength of light, so they are refracted at a different angle and hence split into the colour spectrum.