Statement I is correct because in quantum mechanics, the wave function $\psi$ indeed depends on the coordinates (position variables) of the electron in an atom. These coordinates describe where the electron is likely to be at any given time and the wave function varies with these coordinates.

Statement II, however, contains an inaccuracy. The probability of finding an electron at a point within an atom is not directly proportional to the orbital wave function $\psi$ itself, but rather to the square of its absolute value, $|\psi|^2$. This squared value is referred to as the probability density, and it is what provides the likelihood of locating an electron at a particular point in space.