ENG-X 101 is worthless credit. You don’t need that class. The English class you need is ENG-W 131. You can get credit for W131 in other ways: http://www.indiana.edu/~engweb/composition/requirements.shtml
Undistributed basically just means that you are getting credits that are not associated with a class. It would be like getting credit for a worthless class you don’t need. You would actually have to take a stats class at Kelley even if you got a 5 though, so it doesn’t really matter. These undistributed credits and ENG-X 101 do help you register for classes earlier because people with the most credits register first. They also count towards your total graduation requirement of 120 hours, or the 150 credit hours required to sit for the CPA exam if you are interested in that.
Your Calc and Econ scores do get you out of 3 required classes