Final answer:
Using fossil evidence, paleontologists have discovered that most species last between 1 to 10 million years and that 99% of species that ever lived are now extinct. The fossil record reveals significant biodiversity changes, including mass extinction events that have drastically shaped Earth's biological history.
Step-by-step explanation:
By using fossil evidence, paleontologists have concluded that most species have a lifespan that ranges from 1 to 10 million years. Fossils, which provide solid evidence of life forms from the past, show that many organisms from ancient times are extinct. In fact, it is estimated that 99% of all species that have ever lived are now extinct. Fossil records, which have been foundational to the field of paleontology, help us understand biodiversity and the evolution of species over time. For instance, the fossil record indicates periods of time characterized by a significant increase in species diversity, punctuated by mass extinction events such as the one that occurred about 65 million years ago, leading to the demise of most dinosaurs. These extinctions and subsequent evolutionary periods have shaped the history of life on Earth as we understand it today.