Bryzcki looked at how much weight strong lifters could lift for 1 rep and for several reps. Then he made a formula to predict the 1 rep max from the other rep numbers.
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The Brzycki 1RM formula was derived empirically by Dr. Matt Brzycki through analyzing large amounts of actual 1RM and sub-maximal repetition data from trained lifters. The basic process he followed was:
This empirical analysis found that the relationship between sub-maximal reps/weight and 1RM could be well modeled by the specific form: 1RM = Weight / (a - b*Reps)
Where a and b are coefficients derived from the regression.
The final values of a=1.0278 and b=0.0278 in Brzycki's formula provided the closest fit to the actual data and minimized over/under-prediction errors.
So while not derived from first principles, the formula coefficients were determined through iterative analysis of real-world strength data across a large sample of trained lifters. This empirical approach is why it is fairly accurate for estimating 1RM levels.