Unfortunately, you cannot point out the absurdities involved in the interview process, as that won`t help your situation: Those were pretty easy questions to come up with semi-defensible answers (but here is the catch, almost any answer will be picked apart) so I would come up with an answer, hope it blew them away just with my thinking/analysis methodology.
When they picked it apart I would tactfully reply why I chose such strategy, or if their arguments made some valid points (I would say something like - that is an interesting way to look at the problem - yada, yada very much a willing team guy approach who will take input from others.
[Those two questions are basic problem solving - how does this person think questions meant to judge your ability to problem solve in completing projects in my opinion - actually not so far out to the level of absurdity that some of these can get - they probably came out of a book]
Then I would steer the conversation to the actual job description and the skills they need for the position which you probably have memorized, and why you are an excellent fit for the position.
You should be able to tell exactly what they need from the pre-interview process, and you give that to them in spades.
These guys are not experienced interviewers (you need to subtly lead the interview for them) so they get to where they need to be going with the process in order to find the best candidate.
Interviews are a tricky process though (just seeing capable people who I worked with) really make bad hiring choices based upon personality more than substance - so communication, social skills, and being able to deftly maneuver around potential awkwardness in the interview process - not to mention personality are really valuable skills in landing the job.
Maybe these guys were weak on the technical specs of your job, so they went in with the assumption that every candidate had the qualifications down pat, and they needed to just find that extra special talent.
But unless you have another round just for your direct boss/team members who will ask the technical questions - I would have either brought someone in to ask these questions or if knowledgeable would have been asking questions related to the skills I needed for the projects to be performed for the position.
But there are a lot of "complete idiots" in highly branded firms and companies these days from mid-level management on up - it is unbelievable how some incompetent people are really good at networking, forming beneficial alliances and get promoted despite being total failures in almost every demonstrable metric.
The peter principle at work - style over substance - just remember that Blankenfein (sp) has at least two of his relations working at GS that ought to tell you everything you need to know about the firm.
I would pay to hear their ( blank relatives) answers to those two questions.
Did they really not know what expected value was or were they asking how were you using expected value to come to an answer - the problem is it`s self-explanatory if you know what expected value means - maybe it was a level?
If these two guys really didn`t know what expected value was - you just have to laugh, and now you have an interview story.
