I want to clear some things up here. Response time is an average from color to color. The fastest change is from white to black, or vice versa, because what the cells are doing is going from no voltage to full voltage. The abrupt change in voltage causes the cells to change colors quickly. The slowest changes are from, for instance, red to magenta, or one shade of gray to another. The change in voltage isn't large enough to push the cells into their new color. However, you won't see ghosting in something like this, usually, because if the pixel was changing from red to magenta, the pixel that hasn't changed fast enough is on a (probably) red or magenta background. So, the ghosting is not noticable. However, when black is on white, while it's the fastest chage of all, it will be more noticable because of the stark contrast.
Another thing you have to understand is, since response rate is the average time it takes to change from one color to another, you can't get rid of ghosting no matter how low your fps are. If you are loading only two fps, you migt still have ghosting because even though you're only seeing two, distinct frames every second, the screen still has to change colors. That takes time. If your eye perceives ghosting during the 25ms it takes for one cell to change color, then it's going to perceive it no matter what your fps are.
That's why people "in the know" won't say that the equation works. That equation is no good. Response time on an LCD and fps in a fps game (frames per second and first-person shooter, respectively) aren't easily equatable.
THERE'S NO EASY ANSWER, YOU JUST HAVE TO SEE FOR YOURSELF.