Answer: D
Option A is incorrect. On looking at the scenario, we see that the variable load is only for a specific duration of time. So moving the infrastructure entirely to a Public Cloud will not be the best solution to gain maximum benefit out of the elastic nature of a Public Cloud.
Option B is incorrect. A Private Cloud will be more beneficial where there is a consistent load rather than a variable load. It will be good to have a Private Cloud hosting the applications for economies of cost and agility rather than elasticity, which can be best obtained using a Public Cloud.
Option C is incorrect. Reserved Instances are usually best chosen where there is consistent usage and predictable load for a certain duration of time (1 - 3 Years). Scheduled Reserved Instances have the ability to reserve capacity for a predictable recurring schedule that may be in a day, week, or month. The advantage here is w.r.t the costs that I incur for Reserved Instances that can be managed without paying everything upfront rather than elasticity.
Option D is CORRECT. This is the best way to reduce the costs of purchasing Hardware and getting the benefits of the elasticity and On-Demand pricing provided by a Public Cloud environment. On these specific occasions, I can demand a burst capacity by going to the AWS Public cloud. That will certainly help me maintain the performance of my applications at heavy load. Once the load reduces, I can then terminate the instances that are no longer used to save costs.
References:
https://docs.aws.amazon.com/AWSEC2/latest/UserGuide/burstable-performance-instances.html
https://youtu.be/OzVpynd_2GM