A binary compact object early in its inspiral phase will be picked up by its
nearly monochromatic gravitational radiation by LISA. But even this innocuous
appearing candidate poses interesting detection challenges. The data that will
be scanned for such sources will be a set of three functions of LISA's twelve
data streams obtained through time-delay interferometry, which is necessary to
cancel the noise contributions from laser-frequency fluctuations and
optical-bench motions to these data streams. We call these three functions
pseudo-detectors. The sensitivity of any pseudo-detector to a given sky
position is a function of LISA's orbital position. Moreover, at a given point
in LISA's orbit, each pseudo-detector has a different sensitivity to the same
sky position. In this work, we obtain the optimal statistic for detecting
gravitational wave signals, such as from compact binaries early in their
inspiral stage, in LISA data. We also present how the sensitivity of LISA,
defined by this optimal statistic, varies as a function of sky position and
LISA's orbital location. Finally, we show how a real-time search for inspiral
signals can be implemented on the LISA data by constructing a bank of templates
in the sky positions.Comment: 22 pages, 15 eps figures, Latex, uses iopart style/class files. Based
on talk given at the 8th Gravitational Wave Data Analysis Workshop,
Milwaukee, USA, December 17-20, 2003. Accepted for publication in Class.
Quant. Gra