Question

What does statistical significance of an independent variable mean? Why does it matter?  

Answer 1

Statistical significance of an independent variable is as follows.
Independent variable is very important in the determination of conceptual data.
Independent variable is a factor which cannot be affected by any other variable
The fluctuation in the independent variable is very less so the consistency level is high.
Independent variable is a good factor to present specific data.
It is helpful in the cause and effect relationship in economics.
With the help of the independent variable, it is easy to trace the values of other variables.
It is helpful in major research projects and the process.
Independent variable is an important factor in the framing of economic policies.