The accurate statement about the investigation is:
The 500-gram rock causes a larger splash because it has more kinetic energy.
As the rocks are dropped from the same height, both will have the same potential energy converted to kinetic energy just before hitting the water. However, since kinetic energy is dependent on both mass and velocity (given by the formula KE = 1/2 mv²), the 500-gram rock will have more kinetic energy upon impact due to its greater mass, resulting in a larger splash.