Suppose I've got QQ IP and it's checked to me on an Ac,Js,8h,Kd board and villain has shown weakness preflop-turn. I estimate the opponent will fold 1:2 times to a $13 bet into $18 pot, then I know that it is +EV to bluff. Adversely if I estimate the opponent will fold only 1:3 times then it's -EV.
What is the thought process that mid to high stakes regs go through to estimate these percentages?
Not so sure if this is a good example but I hope you get the gist.