In 1979, Jack Daniels and Jimmy Gilbert published "Oxygen Power. Performance Tables for Distance Runners". This series of tables predicted all-out racing times for virtually every racing distance. Each performance time in the table is related to a VO2max index, called VDOT. The tables were generated using two regression equations: (1) relating oxygen consumption with velocity, and (2) predicting the amount of time one can run at a given percentage of VO2max. By combining these two equations, substituting VDOT indices, and looking for convergence for Newton-Raphson curve fitting analysis, one can then mathematically match up a predictable racing time expected at a given distance for someone having a particular VDOT index. Of course, doing this kind of calculus can give a normal human being a headache; so it is done with computers. The validity of these tables is strongly supported by looking at the known VO2max scores of some world record holders and their respective record times.
For an interesting history of this table and similar tables, you will enjoy reading "Lore of Running" by Tim Noakes, MD. You will find this in the chapter covering oxygen transport.