Question

Is the equilibrium constant related to the speed of the reaction. If so, how

Answer 1

No it is not. All it shows is ratio of the concentration of the products over the reactants. If it's a huge number then you know the reaction must have gone to almost completetion becuase the products are much greater than the reactants. If it's a really tiny number then the reaction has only produced a little product. At equilibrium the rate of the forward and reverse reactions are equal meaning it gives no indication of speed.