I am trying to predict the statistically significant variables out of a list of binary variables. I am having a conceptual doubt in the below mentioned 2 approaches to find the relevant variables.
Dependent variable: Height of a person
Independent variables:
- Gender(Male or Female)
- Financial_Status(Below Poverty Line or not)
- College_Graduate(Yes or No)
Approach 1: Fitting a linear regression while taking these as dependent/independent variables and finding the statistically significant variables
Approach 2: Performing an individual statistical test for each dependent variable(t-test or some other relevant test) to compute the statistically significant variables
Are both of these approaches similar and will give similar results? If not, what's the exact difference?