Regarding rthe OP
in my humble opinion Zho is considering a distribution of returns that is wrong by assumptions and produces a table generated by GIGO (garbage in garbage out) maths.
1. 2017 statistics introduce the "almighty algo" that converges to 98% if you are active AT LEAST 100k in the month (all of us know about payday in which returns are realigning so that there is a "compensation system" or better a "return to the mean" i think its out of discussion.
2. MA regarding looter and EFF stated "it is a small contribution, max 7%". in usual deceptive MA language it is NOT stated anywhere that this is FOR EACH VARIABLE and that IT IS LINEAR PROGRESSING.
3. ALGO is deposited to the gambling commission that certified game is skill based (i read it as a zero sum game but this is me).
these 3 point along MUST cancel any manypulation doubt
now my personal difference toward Zho numbers
a. distribution of return is capped at somewhat near 98.5% (thanks EVE for sharing a 98.42% retrn over 50m ped that confirms my idea
b. mayhem vendor items diminishing eff in favor of DPP tell me that looter and eff sum up and i add there is a cap somewhere of the sum (i used it as 130 based on some emirical legends told me about the "magic 80 looter" that is simply 130 (80+55 1.0 eff in weapons). elaborating a scaling of this (will not share excel they are boring, i came to a 94.25 to 98.50 range over the path 55 to 130 summed numbers. this confirms my return path (i played always very eco) remains into the constrains of max 7% variance (it is in fact 4.25%, it progresses in skill it resolves the loot 1.0 in-famous 3.21 DPP exploit that made some actual Ubers make a free progress, using my (small) 400k cycle confirms a 98% (or some notch below) returns.
point is WHERE IS THE MISSIN 2% (over 1m shot it is 20k ped btw or 1800 euros)
1% is green lines TT skill value (open system panel, there it is) (YES MANY SAY THAT SKILL ARE FREE.. they are not they are part of the loot pool to me
0.5% is codex bonus skill tt (again it is not linear, some skills are more valuable and rewarded with lower tt), on tocktropia mission reward is 0.38% so codex return more
0.5% is GLOBAL LOOT POOL at it is the "tax" we all pay to manufacture HOFs and ATHs (does anyone believe those were from MA pockets? they come from activity pool).
these numbers fit the funcion (with some epsilon) as well as zho ones but respect the constrains above.
Again GAME IS NOT LINEAR, it is Asyntoptic progress so.... the difference between my return at 80 looter and JBK 170 looter are not as distant as mine to mr Newcomer with 2 looter killing caudatergus, are just probably 0.2% distant while mine are 4$ better.
last point is the VARIANCE, there is a SWING in return that is affected by mob level, i never explored it (i hate bigger than 5 ped kills, and once i hated bigger than 1 or 2 pedder creatures). BUT as the creature cost more to kill, swings are bigger or i perceive them so... before stabilizing need at least 500...800 kills depending on what RNG phase you are... and to become stable i would say 4000 to 8000 kills to explore random generator.
As i was toward horn of z'agol i killed for 18 hours shub over 2 days with a 6 hours sleep and i got the shub page so loot events make the random generator explore all returns and also loot rarer items but the magnitude is too hard to test for everyone. look caperon all time globallers, look shub, or other monster to see how many events were collected by old gamers to explore loot distribution (yes again i point to Jbk and Evey statistics... can learn much from top hunters if we are humble enough to listen.... or we can see the sipper videos and learn even more on YT