A Feynman–Kac approach to a paper of Chung and Feller on fluctuations in the coin-tossing game

A classical result of K. L. Chung and W. Feller deals with the partial sums S k S_k arising in a fair coin-tossing game. If N n N_n is the number of “positive” terms among S 1 S_1 , S 2 S_2 , …, S n S_n then the quantity P ( N 2 n = 2 r ) P(N_{2n} = 2r) takes an elegant form. We lift the restriction on an even number of tosses and give a simple expression for P ( N 2 n + 1 = r ) P(N_{2n+1} = r) , r = 0 r = 0 , 1 1 , 2 2 , …, 2 n + 1 2n+1 . We get to this ansatz by adaptating the Feynman–Kac methodology.