Then let's try to use the information you had before these two years:
Look at it this way:
pH is a function of [H+]
(By definition, pH = -log [H+] )
A basic equation in the participation of the bicarbonate buffer in the regulation of pH is:
CO2 + H2O <-----------> CO3H2 <------------> CO3H- + H+
The CO2 in the aqueous phase (blood in capillaries) diffuse to the gas phase (lung air space). The CO2 in the air space of the lungs is in equilibrium with the Bicarbonate buffer in the blood plasma passing through the lung capillaries.
Recall from Chemistry: "When a change is imposed on a system at equilibrium, the position of the equilibrium shifts in a direction that tends to reduce the effect of that change." (Le Chatelier principle)
It means that when a reactant or product is added to a system at equilibrium, the system shifts away from the added component. On the other hand, if a reactant or product is removed, the system shifts towards the removed component.
In the case of Hyperventilation there is an excessive CO2 exhalation and the reaction will shift to the left. It provokes a decrease in the concentration of H+ and consequently and increase in the pH (Once again, by definition, pH = -log [H+] )
The principle in having a person to breath from and in a bag during a panic attack (a cause of Respiratory Alkalosis) is to try to restore the equilibrium by increasing the CO2 in the lungs, so the equilibrium of the reactions will shift to the right again.
Respiratory alkalosis can be caused by hyperventilation in head injuries or drug induced toxicity: since the hyperventilation decrease CO2 in the lungs, and consequently in blood, the reaction shifts to the left consuming H+ and so, increasing pH.
In the case of Respiratory acidosis, the opposite occurs: Respiratory acidosis can be caused by a chronic lung disease or by a depression of the respiratory rate as a consequence of a CNS disturbance. These conditions can produce an increase of CO2 in lungs, as it increases, the reaction shift to the right, producing an increase in H+ and so, a decrease in pH.
I hope it helps. I suggest to memorize this equation and try to apply it.
CO2 + H2O <-----------> CO3H2 <------------> CO3H- + H+
My blog:
http://www.biochemistryquestions.wordpress.com
Note: I do not mean that the other explanations are not valid. I just wanted to give a different approach