Deliverable Length: 2-3 pages (not including cover page or Reference page; double spaced 12-point Times New Roman font)OBJECTIVESKey Assignment DraftNow that the product and promotional decisions have been made for the new product, Michelle is concerned about the pricing of the new product and the distribution channels that will be used to make the product available to customers. She has asked you to write a 2-3 page memo outlining two different pricing strategies that MM should consider. Her voice mail message goes on to say,I want you to recommend which strategy you think should be used for the target market and why. The second part of the memo should outline a distribution plan that will make the product available to the target customers.You are ready for Michelle's request and begin drafting the memo to her that same day.PART 1OverviewOpening paragraph give an over of the importance of choosing the right pricing and distribution channel. Discuss outline for two different pricing strategiesPricing strategy #1Pricing strategy #2Discuss recommendation for pricing strategy #1 or #2, and why? (Must provide a specific price point).PART 2Discuss the outline for the DISTRIBUTION plan to get the product to the market for the target customer.

Instructions: The Excel file for this assignment contains a database with information about the tax assessment value assigned to medical office buildings in a city. The following is a list of the variables in the database:FloorArea: square feet of floor spaceOffices: number of offices in the buildingEntrances: number of customer entrancesAge: age of the building (years)AssessedValue: tax assessment value (thousands of dollars)Use the data to construct a model that predicts the tax assessment value assigned to medical office buildings with specific characteristics.Construct a scatter plot in Excel with FloorArea as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?Use Excel’s Analysis ToolPak to conduct a regression analysis of FloorArea and AssessmentValue. Is FloorArea a significant predictor of AssessmentValue?Construct a scatter plot in Excel with Age as the independent variable and AssessmentValue as the dependent variable. Insert the bivariate linear regression equation and r^2 in your graph. Do you observe a linear relationship between the 2 variables?Use Excel’s Analysis ToolPak to conduct a regression analysis of Age and Assessment Value. Is Age a significant predictor of AssessmentValue?Construct a multiple regression model.Use Excel’s Analysis ToolPak to conduct a regression analysis with AssessmentValue as the dependent variable and FloorArea, Offices, Entrances, and Age as independent variables. What is the overall fit r^2? What is the adjusted r^2?Which predictors are considered significant if we work with α=0.05? Which predictors can be eliminated?What is the final model if we only use FloorArea and Offices as predictors?Suppose our final model is:AssessedValue = 115.9 + 0.26 x FloorArea + 78.34 x OfficesWhat wouldbe the assessed value of a medical office building with a floor area of 3500 sq. ft., 2 offices, that was built 15 years ago? Is this assessed value consistent with what appears in the database?