In which year and which quarter does the output have the second highest positive deviation from its trend?
Explanation:
The deviation of the Output from its Trend is essentially the difference between equivalent cells of the two tables. For instance, actual output in Quarter 3 (1998) is 56 while the Trend is 60.38.
Hence, Deviation = 56 − 60.38 = −4.38 (i.e. deviation deviation).
Similarly, the deviation for each quarter is as shown.
The second highest positive deviation is Quarter 2 in 1999.
Hence, option (b).
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