LIGAND BINDING - TUTORIAL #1

In an experiment aimed at determining the equilibrium constant of the reaction P + X <==> PX, the following data set has been collected:

How would you proceed with data analysis (click to select)?
1) Fit eq. Y = [X]/(K+[X]) to the experimental data in order to find the value of K that minimizes the sum of the squared residuals.
2) Linearize the data using Hill's equation log(Y/(1-Y))=nKX then draw the best straight line through the data points in order to find K and n.