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Question 1 of 30
A retail company is analyzing its sales data over the past five years to identify trends that could inform future marketing strategies. The sales figures (in thousands) for each year are as follows: Year 1: 150, Year 2: 180, Year 3: 210, Year 4: 240, Year 5: 300. If the company wants to calculate the compound annual growth rate (CAGR) of its sales over this period, which of the following calculations would yield the correct CAGR?
$$ CAGR = \left( \frac{300}{150} \right)^{\frac{1}{5}} - 1 $$
$$ CAGR = \left( \frac{300}{150} \right)^{\frac{1}{4}} - 1 $$
$$ CAGR = \left( \frac{300}{150} \right)^{\frac{1}{3}} - 1 $$
$$ CAGR = \left( \frac{300}{150} \right)^{\frac{1}{2}} - 1 $$

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