Some of us work all day too, just have moments where the computer is doing something for us
I believe that yum update needs to run as root; some of the files it accesses (/var/cache/yum among others) are likely owned by root, probably writeable only by root. Your crontab entries are running as user KJackson, right? First one you do a sudo, so that works. The second, if you tweak the script and do a "sudo /home/KJackson/Scripts/yum_daily" it will likely work.
The script tweaks:
first line of the file should read:
Then after save and exit, do
chmod a+x /home/KJackson/Scripts/yum_daily
(a+x means add execute priv to ugo user:group:others. Other OSs refer to them as owner:group:world) You can poke around at man chmod if you want to figure out the correct octal value.
Your crontab -e: the editor may create the file in /tmp, but the final result should be in /var/spool/cron (root can look at the directory). There are some caveats with it (man crontab, look for stuff about cron.allow, cron.deny, PAM)