chance of bowl: 13.6%
There's a lot of great blogs and data about Nebraska football. Most of it stems from Huskerpedia, which has an excellently detailed chronology of past Cornhusker football seasons with photos from some of their games.
Amazingly this was the very first season in Lincoln for former a little-known Wyoming coach, but a future Cornhusker football icon, Bob Devaney.
Devaney was a Saginaw, Michigan product and high school football coach at several different Michigan high schools. He also was a graduate of Alma College, and later coached under Duffy Daugherty before the Wyoming job.
Nebraska won the game 25-13. Unfortunately, Michigan finished 2-7 and dead last in the Big Ten.