UCLA History: Forecast

In 1969, on the 50th anniversary of UCLA, a celebratory book, UCLA on the Move, was published.  Yours truly did not get to the UCLA Anderson Forecast conference yesterday - which was focused on real estate - due to a medical appointment.*  However, the 1969 book contains this photo and caption about the Forecast and its founder, Prof. Robert Williams.

According to the accompanying text, the Forecast was said to be 3-5% accurate, although it did not specify the percent of what.  Back in those days, the Forecast did not rely on computerized forecasting models - which were just beginning to appear - as the mechanical typewriter in the background suggests.  Rather, it was developed as a kind of consensus of participating faculty.

*http://www.prnewswire.com/news-releases/ucla-anderson-forecast-examines-trends-in-commercial-real-estate-economy-across-california-us-262971431.html
and
http://www.latimes.com/business/la-fi-california-job-growth-beats-rest-of-us-ucla-anderson-forecast-says-20140613-story.html