The primary function of the lung is to (i) oxygenate the blood and thereby provide oxygen to the cells for metabolization purposes, and (ii) to remove the CO2 produced by the tissues from the pulmonary blood. Herein, we provide a noninvasive methodology to asses the capacity of the lung to oxygenate the pulmonary capillary blood and to reduce its CO2, concentration. For this purpose, we analyze the compositions of the inspired and expired air per breath, and therefrom compute the metabolic O-2 consumption rate ((VO2)-O-circle) and CO2 production rate (V circle O-2). Next we compute the cardiac out (CO) as CO=V-circle(C-O2(AB)-C-O2(VB)). We have derived the expressions for diffusion coefficients (i) D-O2 in terms of V circle(O2), and the alveolar and venous partial pressures, P-O2(al) and P-O2(VB) and (ii) D-CO2 in terms of V-CO2(circle), P(CO2)al and P-CO2(VB). The coefficients D-O2, and D-CO2 represent the gas transfer capacity of the lung. The paper provides a case study for the determination of Q,D-O2 and D-CO2. The derived information of D-O2 and D-CO2 as well as of O-2 and CO2 metabolic rates can be of considerable clinical use including for SARS assessment.