Can you do adsense arbitrage?

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AdSense arbitrage is Buying pay-per-click (PPC) advertising using cheap bid pricing for a specific keyword and send the traffic to your website with the best paying, targeted AdSense keyword. Adsense arbitrage website must have high CTR (Click-through rate). The key is high CTR . To do this, you can learn from joel comm adsense-secrets. He teaches how to place your ads, so it has high CTR.

From my experience it is almost imposible to do adsense arbitrage, unless you do ‘little’ cheat with your ad placement. For example, you do some advertising to get 100 traffic to your website. 1 traffic cost you $0.05 with a total of $5. If 1 click on your adsense gives you $1, you will be needing 5 click. That means 5/100 = 5% CTR. What do you think about this number. Is it posible to do adsense arbitrage? The three variable you need to consider for adsense arbitrage are:

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