Since PHP code will run just fine even if it\'s riddled with warnings and notices about undefined indexes and non-static methods being called as static, etc, the question is
Depends on the amount of warnings, but the error handling in PHP is, even when hiding error messages, relatively expensive.
What you'd have to do to estimate the effect is profiling on C level: Install valgrind (assuming you're on Linux) and then run
callgrind /path/to/bin/php /path/to/script.php
this generates a file called callgrind.12345
or so, load this file into an app like kcachegrind and look for php_error_docref0
or php_error_cb
to see how much time was spent in the error handler.
Please mind the cachegrind and valgrind docs when doing that and mind that there are many system-dependant variables involved.
EDIT: Oh one more note: I assume that way more time is spent while talking to databases and similar systems. and yet another additional note: fixing notices usually makes the code more robust for future changes so it's a good idea independent from performance.