Which Reserved Instance (RI) provides the HIGHEST average cost savings compared to an On-Demand Instance?

Explanations:

A 1-year, No Upfront, Standard RI offers lower savings compared to longer commitment terms. Generally, 1-year RIs have less savings than 3-year RIs.

A 1-year, All Upfront, Convertible RI provides flexibility to change instance types but typically offers lower average savings than longer-term RIs.

A 3-year, All Upfront, Standard RI usually provides the highest savings compared to On-Demand Instances, as longer terms and all upfront payments offer deeper discounts.

A 3-year, No Upfront, Convertible RI offers flexibility but tends to have lower average savings than an all upfront option; standard RIs also generally offer better savings.