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I was a tank gunner in the army and we used mil dot sight when our periscope sight didn't work. One mil is one minute of angle folks. If your scope is sighted in at say 200 yd. and your target is at 300 yd hold over the same # of mils that your caliber drops from 200 to 300 yd. A .270 with 130 gr. bullets will drop 7.5" from 200 to 300 yards. one minute of angle at 300 yards is 3+" so hold over 2 1/2 mils. sight between the 2 and 3 mil dots. You will hit very close to center. Trying to use complicated math formulae while shooting is an exercise in frustration. K.I.S.S.
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That is not correct at all.
One mil is NOT one MOA. 1 MOA = 1 MOA. One mil is more like 3.6 MOA. Formulas are necessary for the task of mil dot ranging.
Size of target (in yards) x 1000
Size of target in Mils = Range in yards