The no-boundary wave function (NBWF) specifies a measure for prediction in cosmology that selects inflationary histories and remains well behaved for spatially large or infinite universes. This paper explores the predictions of the NBWF for linear scalar fluctuations about homogeneous and isotropic backgrounds in models with a single scalar field moving in a quadratic potential. We treat both the spacetime geometry of the universe and the observers inhabiting it quantum mechanically. We evaluate top-down probabilities for local observations that are conditioned on the NBWF and on part of our data as observers of the universe. For models where the most probable histories do not have a regime of eternal inflation, the NBWF predicts homogeneit...