After first fork there will be one child. After second fork, 2 new child processes (as now 2 processes are executing fork)
So at level $i$ (starting from 0) we have $2^{i}$ child processes newly created.
In the given code we have 4 levels and thus $ 1 + 2 + 4 + 8 = 15$ child processes plus 1 parent process.
In general it will form complete binary tree when fork is executed in a loop without any further condition.
for(i=0; i<n; i++)
No. of child processes created $=2^{n}-1$.