Brief thought exercise: what percentage of conversation in a given day is transactional/small talk?

[youtube http://www.youtube.com/watch?v=rn4IVXFcVek&w=600&h=315]

Last night I was in this class, and there were eight full-time faculty members in the class to evaluate some presentations we had done, and prior to the class actually commencing there was pizza and much merriment (and some nerves related to the presentations, although I can't say I get ner…