Are those the statistics for the incoming class or for accepted students? Large state universities with powerhouse engineering programs sometimes have low conversion rates because highly qualified applicants see them more as safety schools that they can just throw $75 at to have a backup. Looking at them like that is probably a mistake, but when applying is as easy as checking a few boxes and (maybe) writing a supplemental essay, and when you're parents are paying the application fee, why not?
In regards to the SAT II's, if you don't plan on applying to any elite private engineering schools, you don't need to worry about the physics. I just mentioned it because if you're applying to MIT/Stanford etc, it's probably worth your time.