The type of force that occurs in this experiment is upthrust. Upthrust is the force that pushes an object up and makes it seem to lose weight in a fluid.
My prediction was correct. The weight of the object measured in water was lower than the weight measured in air, due to the upthrust force of the water pushing up on the object. The more dense the fluid, the greater the upthrust force and the more the object's apparent weight is reduced.