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Likelihood-Ratio Ranking Statistic for Compact Binary Coalescence Candidates with Rate Estimation

We present a new likelihood-ratio ranking statistic for use in searches for gravitational waves from the inspiral and merger of compact object binaries. Expanding on previous work, the ranking statistic incorporates a model for the correlations in the signal-to-noise ratios with which signals will be seen in a network of ground-based antennas while retaining an algebraic procedure for mapping ranking statistic values to false-alarm probability. Additionally, the ranking statistic enables the implementation of a rigorous signal rate estimation technique. We implement the ranking statistic and demonstrate its use including signal rate estimation in an analysis of a simulated signal population in simulated noise.