In its simplest terms, Button's formula uses a team's current winning percentage, factoring in games remaining, to arrive at the number of wins -- and points -- each team will finish the season with. From that exercise, the formula can extrapolate the magic number for qualification and which teams currently in the race will reach that number. This equation will also determine tiebreakers should they become necessary.
The Jets finishing 10th is just a prediction in today's terms. Assuming they, and everyone else does the exact same thing (in terms of winning percentage) for the remainder of the season. Things can and will change. They are not statistically eliminated by any means.
Winnipeg needs 7 wins, as of today, to secure a playoff spot according to the Button formula. They have 9 games remaining. Compare that to Washington and Buffalo, each with 9 games left play. They would need 5 wins.
It is a very complicated formula. I don't know how accurate it is, but it sure seems about right. Winnipeg is only technically 4 points behind 8th place Washington, so three wins secures a eighth place finish. But that assumes that Washington and Buffalo and everyone else around that area loses everything. That's not realistic and that's why the Button Formula puts the needed wins for the Jets at 7, not 3.
I like the Button Formula because if puts things in real perspective in the long run, not the "oh, they are only 4 points back, that's no so bad" way many people look at it. We all too often forget, though we won't admit it, that other teams will be playing and winning too.
I am gearing up for my trip to Nashville this weekend as the Jets take on the Preds Saturday night.