The parameters of inspiralling compact binaries can be estimated using
matched filtering of gravitational-waveform templates against the output of
laser-interferometric gravitational-wave detectors. Using a recently calculated
formula, accurate to second post-Newtonian (2PN) order [order (v/c)4, where
v is the orbital velocity], for the frequency sweep (dF/dt) induced by
gravitational radiation damping, we study the statistical errors in the
determination of such source parameters as the ``chirp mass'' M, reduced
mass μ, and spin parameters β and σ (related to spin-orbit and
spin-spin effects, respectively). We find that previous results using template
phasing accurate to 1.5PN order actually underestimated the errors in M,
μ, and β. For two inspiralling neutron stars, the measurement errors
increase by less than 16 percent.Comment: 14 pages, ReVTe