Choose a scenario or build your own to simulate a binding experiment, then fit it with the specific binding model and/or the quadratic 1:1 model.
Both describe one ligand binding one site. They differ in whether the protein is allowed to consume the ligand it binds. Each gives the fraction bound as f = Bmax·θ, where θ is the occupancy the model predicts and Bmax is the plateau the signal reaches at saturation.
specific bindingf = Bmax LTn ⁄ ( K + LTn )
quadratic 1:1f = Bmax [ (PT+LT+Kd) − √((PT+LT+Kd)² − 4PTLT) ] ⁄ 2PT
The first assumes free ligand equals what you pipetted in. The second solves mass balance for both partners, so it needs [P]T and is strictly 1:1 — there is no Hill exponent to fit.
The EC50 is the half-saturating concentration, the concentration at which fraction bound is ½, and represents the midpoint of the curve. It equals the Kd only when the protein is dilute.
EC50 = Kd + n·[P]T/2 — at any affinity.
The specific binding model has no term for depletion, so as [P]T increases relative to [L]T, the fit Kd drifts toward the EC50 instead of the true Kd. The quadratic binding model accounts for ligand depletion and produces a more accurate Kd measurement, but it is also compromised at high protein concentration.
The n term, or Hill coefficient, is a measure of cooperativity. At n = 1 the sites are independent — there is either one binding site, or no cooperativity between sites. When n > 1 there is positive cooperativity: each binding event makes the next easier. When n < 1 there is negative cooperativity. n is a measure of the steepness of the curve, not a count of sites or a stoichiometry.
With n fixed at 1 the fitted K is a Kd; once n is fitted, K has units of concentrationn and is no longer a Kd — the half-saturating concentration is then K1/n. 10% to 90% occupancy spans 811/n-fold in Lf.
Each dataset is simulated from exact mass balance, using the true ligand Kd and Hill coefficient. Gaussian error is added to every replicate and ligand each time you change the experiment, the way a repeat experiment would. Both models are then fitted to those points by least squares, over every replicate rather than over the means.