  We examine the selection effects that determine how the population of
inspiraling binary compact objects (BCOs) is reflected by those potentially
observed with ground-based interferometers like LIGO. We lay the ground-work
for the interpretation of future observations in terms of constraints on the
real population and, correspondingly, binary star evolution models.
  To determine the extra-galactic population of inspiraling binaries we combine
data on distance and blue luminosity from galaxy catalogs with current models
of the galactic BCO mass distribution to simulate the physical distribution of
binaries in the nearby universe. We use Monte Carlo methods to determine the
fraction of binaries observable by the LIGO detectors from each galaxy as a
function of the BCO chirp mass. We examine separately the role of source
distance, sky position, time of detection, and binary system chirp mass on
detection efficiency and selection effects relevant to the three LIGO
detectors. Finally, we discuss the implications of the nearby geography of
space on anticipated GW detection and compare our results to previous studies,
which have assumed uniform galaxy volume density and fixed chirp mass for
binary compact objects.
  From these considerations, actual BCO inspiral observations or significant
upper limits on the coalescence rate anticipated in the near future by
ground-based interferometers can be used to improve our knowledge of the
galactic binary inspiral rate and to constrain models of radio pulsar
characteristics and binary star evolution channels leading to neutron star or
black hole binaries.
