The most accurate statement about the investigation is:
The 500-gram rock causes a larger splash because it has more kinetic energy.
This conclusion is based on the fact that kinetic energy is determined by both mass and velocity, and, in this case, both rocks are dropped from the same height and thus will have the same velocity upon impact. However, the 500-gram rock has more mass, which results in greater kinetic energy (KE = 1/2 mv²). Therefore, when it hits the water, it displaces more water and causes a larger splash.