Strategies for heart rate and respiration quantification are dependent upon a knowledge of physiology and statistics. To develop appropriate and sensitive psychophysiological measures, it is necessary to understand the neural control of the autonomic nervous system and the statistical characteristics of physiological data. Moreover, it is proposed that inferences derived from physiological measures are dependent upon a statistical interaction between the characteristics of the physiological data and the measurement techniques. The steps required to analyze heart rate and respiration data are presented, ranging from data acquisition and editing to data analysis and physiological inference. A variety of techniques are described and contrasted with recommendations for future research.