I would say that it is a factor which Google takes into consideration, but I think it is a fairly minor one. However if everyone who goes to your site and immediately bounces back to the serps then this is a red flag for Google.

It mater the most for getting paid from Google adsense and other advertising companies. If a user spent considerable amount of time at you website then you will get good amount of money....

Yest it matters because if he only spend 5 seconds it is consider that he didn't find anything interesting there

Yes, more he stays more he learns about your business and can share or refer your link with others on his social networks.

Do article submission then you get quick result on Google search engine have you any other guide please share.

Yeah of course time matters a lot.If visitor spent considerable amount of time then your site become more valuable in eyes of search engines like google.Also it is required for improving your business.Thats why every one emphasis on contents.Put some interesting and relevant contents to your site and update it regularly.It helps in improving your Page Rank and hence your business.