Because of the sigmoid shape of the oxygen-hemoglobin saturation curve, hyperventilating a normal region of lung (x) does not significantly increase the oxygen content of the blood leaving that unit; the binding sites on the hemoglobin are already nearly 100% saturated with oxygen. Therefore, hyperventilation will not compensate very well for the low oxygen content of blood leaving a poorly ventilated unit (y). The result is a final mixed oxygen content, and PaO2, that is only slightly better (z) than prior to hyperventilation.
x: PaO2 of blood exiting normal alveolus.
y: PaO2 of blood exiting shunt alveolus.
z: PaO2 of mixed blood coming from normal alveolus and shunt alveolus.