Is it 50% - 70% of ARV or As Is?

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I think after reading quite a bit of material that I'm getting a pretty good understanding of the Wholesaling strategy but I've one question:

Are you supposed to offer 50% - 70% of the ARV or As Is Value or the asking price? I feel kinda stupid asking a question like this but for some reason I can't get that one area to stick in my brain. My mind is telling me that it is the As Is Value but I'm not sure. Could someone please be so kind as to steer me in the right direction?

Thank you so much,
Anna

BTW...this place is the bomb...I've been reading for months but just started posting. Thank you to all of you who contribute to make the road for all of us noobs a little easier and less rocky.