Final answer:
The inner DO loop in the given DATA step executes 20 times, as it runs for 4 quarters each year over a span of 5 years (2008 to 2012).
Step-by-step explanation:
The question concerns the execution flow of a DO loop in the SAS programming language within the context of a data step. When looking at the loop structure, the outer loop runs for each year from 2008 to 2012, which accounts for 5 iterations. Inside this outer loop, there is an inner loop, which runs from quarter 1 to 4, which makes 4 iterations for each year. To find the total number of times the inner loop executes, you multiply the number of outer loop iterations by the number of inner loop iterations.
In this case, it's 5 years times 4 quarters, resulting in a total of 20 iterations for the inner loop.
The correct answer to the question, 'In the following DATA step, how many times does the inner DO loop execute?' is d. 20.