A method and apparatus for determining the concentration of a constituent in a fluid by directing a beam of light into the fluid and sensing the intensity of components of the light emerging from the fluid at various wavelengths. The light emerging from the fluid can be light that has been attenuated by absorption or induced by fluorescent radiation. The effect of scattering on the light is minimized by normalizing the component intensities, which are then applied to an algorithm incorporating weighting factors that weighs the influence that the intensity at each wavelength has on the determination of the concentration of the constituent for which the algorithm was developed. The algorithm is developed by a regression analysis based upon a plurality of known mixtures containing various concentrations of the constituent of interest.