There have been some wonderfully detailed explanations here, and some of them are complex enough that it's a little difficult to get your head around it all.
But it's not that simple. There are a few more things that go into the equation. First let me say that what I am about to demonstrate is not really practical, but it does explain some of the complexities involved. The first is that in order to have a equal distance from the strings to the surface of the fretboard, the plane of the strings cannot be on the same radius as the surface of the board, that is to say if your fingerboard radius is 16 inches, your strings will not be on a 16 inch radius . It's easiest to see this with the radius curves exaggerated, so we get this:
View attachment 2815959
Curves A and B have the same radius, and the distance between each pair of coloured dots is the same. But we measure the distance from string to fingerboard on a line perpendicular to the fretboard, like the distance from the yellow dot to the A curve at point x. You can see that it is less than half of the distance from A to B. In order to maintain a constant distance from the curve B to the curve A we need to have two different radii, like this:
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So if the distance between curve A and curve B is n, then the radius of curve B is radiusA+n.
As discussed earlier, since the strings are placed narrower at the nut than at the bridge, and are arched from side to side, the string plane formed is the surface of a cone. And we can create a matching cone-shaped surface at the fingerboard to provide equal distances from string to fingerboard. But we actually don't want that. We want the strings to be closer to the fingerboard at the nut than at the other end of the fingerboard. We can do that and maintain string-to-fingerboard distances at each position in two ways; by the hourglass manipulation described by Bruce, or by setting the parameters of our sting plane radii to radiusA+n along the entire length of the fingerboard, where n will vary depending on the distance from the nut. If we don't vary the "n" part of the radius we end up with the opposite problem at the nut than the first curve shown above, like this:
View attachment 2816070
Now the blue and yellow points are much further apart than the red and green points. So we must vary the factor "n" along the length of the conical surface. This sounds more difficult than it actually is so long as we maintain a constant taper in the conical structure.
OK, now we've got that sorted, all should be good. Well, not yet. We don't actually want each string to be the same distance from the fingerboard, we want the heavier strings to have a little more clearance since they vibrate in a larger arc. But before we get carried away with the geometry of this skewing, we have bigger problems to address. So far we have been talking about static geometry. But once we pluck a string we are introducing movement into the equation and that means reworking things for a dynamic environment.
String vibration is complex with waves moving side to side, up and down and along the length of the string. And we are trying to adjust for these complex movements with a fixed fingerboard with a conical surface (or modified conical surface as described by Bruce Johnson) that is skewed in relation to the conical plane of the strings in stasis. Or are we? The fingerboard is vibrating too. You can feel the vibration. Vibration is movement, so we should account for that in our dynamic model to achieve an ideal fingerboard geometry.
This all gets past the realm of practicality pretty quickly. Even if we could work out all of this stuff to the finest degree and were able to manufacture such a fingerboard, we would lose most of the finer points if we made the board from wood. Wood is itself not a static material - it responds to changes in humidity by changing its dimensions. In practical terms we are best to pursue a course as Bruce outlined of creating a longitudinal flat surface along each string path, then adding a bit of relief, usually by string tension adding deflection to the fingerboard under the control of the truss rod. And with careful manufacturing, that bit of relief will be close to the precise curve we would like to optimize dynamic string clearance. Of course that's only possible if we are using high quality wood with even density throughout and straight growth patterns, cut to minimize short grain runout which will affect stiffness, the curve of flexure under string tension, etc. Such wood tends to be expensive. Such care in manufacture tends to get expensive. It's not just about having the parameters worked out, it's about the manufacturing complexity, the quality of materials used, the cost effectiveness and the compromises one is willing to accept.