U Michigan tends to take many of their kids from the same high schools each year. Is your school one of them? That would increase your odds IMO assuming you are on the top end of your high school. I think your major helps you - not biz or enginering. It is still a reach though, but hard to know how high a reach it is from the information given.
ED is the wildcard. Given it is U-M’s first year with it, odds may be higher for those who took the bait. Regardless, it is a reach and hard to assess whether it is a realistic one.