Do you think if you found a historic individual or event that got searched for at least 5,000 times per month. Bought a few books on that person and read up and did a decent amount of research, than made a pretty good website with at least 4-6 pages on that person that that one website could convert into $2-3 a day ?
It would depend on how many other sites are displaying information on that topic. Wikipedia for example would almost always display in the number one position for given persons and events. So if this person/event is some sort of niche you might be able to get high[ish] in the rankings, which would bring in some traffic. Also the type of ads on that person/event might not be high paying so you may need many clicks to reach $2-$3 a day. My advice is to find people/events which are in a niche, or that few people have sites dedicated to. Then build content around that person/event with ad sense put in the right spot. Eventually you will get traffic via search and other means and hopefully the revenue will follow. Another tip is to try and get the Wikipedia article on your person/event to link to your website if possible.