Relationship of the NUMBER OF BACKUP VERSIONS and RETAIN DAYS attributes

Consider a management class that specifies:
        NUMBER OF BACKUP VERSIONS (DATA SET EXISTS)        = 4
        NUMBER OF BACKUP VERSIONS (DATA SET DELETED)       = 2
        RETAIN DAYS EXTRA BACKUP VERSIONS                  = 20
        RETAIN DAYS ONLY BACKUP VERSION (DATA SET DELETED) = 60 
Now consider a single data set associated with this management class: