  The Taiwanese-American Occultation Survey (TAOS) monitors fields of up to
~1000 stars at 5 Hz simultaneously with four small telescopes to detect
occultation events from small (~1 km) Kuiper Belt Objects (KBOs). The survey
presents a number of challenges, in particular the fact that the occultation
events we are searching for are extremely rare and are typically manifested as
slight flux drops for only one or two consecutive time series measurements. We
have developed a statistical analysis technique to search the multi-telescope
data set for simultaneous flux drops which provides a robust false positive
rejection and calculation of event significance. In this paper, we describe in
detail this statistical technique and its application to the TAOS data set.
