Answer
$y<\frac{1}{2}$
Refer to the graph below.
Work Step by Step
Add $\frac{1}{4}$ to each side:
$\begin{align*}
\frac{1}{4}+\frac{1}{4}&>y-\frac{1}{4}+\frac{1}{4}\\
\frac{2}{4}&>y\\
\frac{1}{2}&>y
\end{align*}$
Note that the inequality above is equivalent to $y<\frac{1}{2}$.
Use $0$ as a test number:
$\begin{align*}
y&<\frac{1}{2}\\
0&<\frac{1}{2}
\end{align*}$
The statement above is true so shade the region where $0$ is located.
Use an open circle to obtain the graph below.