A Bauer undergraduate student says, "I don't see why I have to memorize class concepts and take exams. Everything I need to know is readily available via my cell phone."In other words, the students is saying, "Everything I need to know for any job is available via Siri, Google, and YouTube."

Note.Some potentially useful statistics can be found below.

US minimum wage:$7.25/hour; $15,080/year.

US median household income: $59,039

Mean salary for Bauer BSBA graduates (Fall 2018 and Spring 2019):$56,632

Mean salary for Bauer Full-time MBA graduates (2018):$82,287

i) If the student's statement is true, how much would a Bauer graduate make in the BSBA labor market? Justify your answer. (4 points)

ii) Based upon the labor market data (salaries) above, do you agree with this student's observation?State "yes" or "no" and justify your answer. If you state both "yes" and "no," only the first answer will be graded. (4 points)