There're some require condition : your site must have lots of stable traffic, lots of quality and daily update content, and lots of quality backlinks. Normally you'll want it get a high rank on google before you put some ads there.
I've had websites with a 20-60k pageviews/day and weren't making much - ~$15/day each - but those were funny picture sites. If your website is in a different niche then I'm confident that you'd be well off with a few hundred visitors or maybe even less/day - as long as the traffic is targeted.
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