Which option accurately characterizes the company’s actions?

Explanations:

Auto Scaling automatically adjusts the number of EC2 instances in response to demand, but it does not specifically focus on selecting the optimal instance types and sizes for cost efficiency.

Storage tiering involves moving data between different types of storage based on access patterns, which does not pertain to selecting EC2 instance types or sizes.

Rightsizing is the process of evaluating and adjusting the instance types and sizes based on performance needs and cost efficiency, making it the correct choice for the company’s goal of finding the lowest possible cost.

Instance scheduling refers to the practice of starting and stopping instances based on a defined schedule to optimize costs, but it does not involve selecting the appropriate instance types or sizes.