Algal biodiesel is one of the most promising renewable and eco-friendly source of energy for transportation, when algae is produced from wastewater. During the process, both goals of biodiesel production and wastewater treatment could be achieved simultaneously. However, the optimal condition for algae production remained unanswered. Algal biodiesel could be produced from various wastewater treatments. In this study the relationship between biomass production versus lipid productivity in various wastewater sources is statistically analyzed. Chemical oxidation demand, total nitrogen, total phosphorus, and CO2 sequestration could be achieved during the production of different algal biomass in numerous type of wastewater effluent. The regression of different system models and interpretation of linear coefficients were represented in this statistically approached studies. Apart from that the paper also discuss the uncertainty of linear regressions using Monte Carlo method, influence of physical parameters on biomass production, energy potential and efficiency of nutrient removal using different phototrophic systems.