Let A be the event that a string of length n is a palindrome
The leftmost bit can be 1 or 0: 2 possibilities
The rightmost bit must be the same as the leftmost bit: 1 possibility
The second leftmost bit can be 1 or 0: 2 possibilities
The second rightmost bit must be the same as the second leftmost bit: 1 possibility
…
The innermost leftmost bit can be 1 or 0: 2 possibilities
The innermost rightmost bit must be the same as the innermost leftmost bit: 1 possibility
$ |A| = 2 \cdot 1 \cdot 2 \cdot 1 \cdot … \cdot 2 \cdot 1 = 2^{n/2} $
Usually, this would be right; however, we know the middle bit is always the same as itself AND n/2 is a \fraction since n is odd
$ |A| = 2^{ \frac{n+1}{2}} $