I read an unpublished paper. There is a regression model with about 20 covariates. The authors use a stepwise variable selection method and come to a model with two covariates with small p-values.
The question is: is it correct to consider models with only 2 covariates out of 20? Even for models with all covariates being truly insignificant, we can often find 2 covariates with p<0.05 for both in a multivariable model, just because of 1-st type errors.
What is a reasonable number of covariates to select out of 20 ones?
Some related questions were rosed in https://stats.stackexchange.com/a/20856