People are very bad at estimating time. Part of this comes from the use of common expressions such as "Just a sec," or "I'll be there in a minute." Most people really don't know how long a minute is, or how their activity during that time changes their perception of it.
Test it for yourself - look at a clock or use an online stopwatch, then close your eyes for what you think is one minute. Most people will find that they think a minute is much shorter when doing nothing (such as thinking about how long a minute is). However, we all know that when absorbed in a good book or movie, time seems to fly by.
Time estimation is a useful skill, and comes up very frequently on a day-to-day basis. Having a better concept of time will help you plan your day more efficiently and help you accomplish more. Also, if you are suspected for murder, it is convenient to be able to accurately explain where you were at certain times and how long your daily activities took.
If you are a normal person, it should have taken you about 30 seconds to read up to this point; unless, of course, you got distracted by that stopwatch link.
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