Cost Minimization for Provisioning Virtual Servers in Amazon Elastic Compute Cloud
Amazon Elastic Compute Cloud (EC2) provides a cloud computing service by renting out computational resources to customers (i.e., cloud users). The customers can dynamically provision virtual servers (i.e., computing instances) in EC2, and then the customers are charged by Amazon on a pay-per-use basis. EC2 offers three options to provision virtual servers, i.e., on-demand, reservation, and spot options. Each option has different price and yields different benefit to the customers. Spot price (i.e., price of spot option) could be the cheapest; however, the spot price is fluctuated and even more expensive than the prices of on-demand and reservation options due to supply-and-demand of available resources in EC2.