Google will pay you based on the quality of your visitors and your niche.. You can make the most money if you are in a high paying niche and most of your traffic comes from search engines!
AdSense pays for clicks not for traffic website receives. The average market CTR is 2%, meaning you can expect 20 clicks (it can be more or less, depends on your niche and content). Now the question is CPC. Some niches are highly paying and some don't. Lets take $0.40 as average, you you can expect $8 earnings from 1000 visitors. Please note all this is approx estimation with 0 knowledge of your website.
It's not so much the traffic but the type of ads that are shown and the price are dependent on the content
It all depends on your niche..... it may be 1 cent or 1 $ per click.... and also all depends on clicks.....