I have never really got into adsense but may start doing it. I was messing around on KeywordDiscovery and found a keyword that has a KEI of 22736. This keywords has a predicted daily average search of 337 times. Has an occurance of 5! Now I check overture and related keywords are only paying around 50 cents per click. I know thats not all great. Is there anything missing that I would need to check? Or is something like this not worth making an adsense site for? Thanks
Depending what it is. if its a product and you think there are companies who might be keen to advertise on the site, Id go for it regardless of adsense.
It's not a good thing to "make" website for AdSense and such. That means, you don't care about the website, only about the revenue it may generate. It's also a violation of Terms of Service in Google. Try to reconsider your approach.
If you make it to page one (in all 3 major engines) for the term referenced in your post you should expect 20 - 30 visits a day from that term...on the high side.