You'll find a plethora of different responses to this question. None will be wrong, but all will be different.
The simple answer to your question is, "There is no simple formula" since so much of the answer is derived from various factors. Elevation, wind speed and direction, terrain, ball type, club selection and club qualities, etc.
Here are two things I've learned that may help you get closer to an answer:
1. Mishits are amplified by rough. The deeper the rough, the more amplified.
2. In the rough, backspin will give you a cleaner hit and it will be closer to the club's true yardage (I expect the naysayers to come out in force on that one).
I factor in as many of the variables as my pea-sized brain can deal with, but in the end, just like in real golf, it's largely a matter of feel. While WGT golf is algorithm based and (ultimately) can be boiled down to equations, those equations are so ridiculously convoluted that you might be better off trying to come up with a unified field theory.