The most reasonable inference about the relationship between wading bird reproductive success and water depth in the Everglades is:
Water depth likely affects wading birds’ access to food and thus affects wading birds’ reproductive success.
This inference is supported by the observation that fewer nests were recorded in dry years, suggesting that reduced water depth may limit the availability of fish, which are the primary food source for wading birds. Thus, if water depth influences food access, it would likely also have an impact on reproductive success.