...but not very well.
My former address was on a street built in the late 1930s, with the expectation that the road would be used for deliveries and no-one would actually own a vehicle. So, no-off-road parking space. When I moved there in the early 1990s, maybe 1/3 of the houses had cars (obviously there was no off-road parking). When I moved away most houses had a car. Obviously the road was packed with parked cars, with only one lane for both directions of traffic.
Speed bumps were installed at every leg of every junction, and that dropped speeds by about 5 - 8 mph, though people were still speeding between the bumps. An improvement, but not a great improvement.
When I moved out, I went to an area where the roads had been designed with car ownership in mind, so every house had at least one parking space off-road (and one house still had four cars!). But more importantly, there was no straight stretch of road longer than about 10 metres. Everywhere was twists and turns ; corners were abrupt ; parking bays (for guests or deliveries) swapped from one side to the other unpredictably. Driving along the road was limited to about 10mph - far slower than on the road retro-fitted with speed humps.
Speed humps are better than nothing, but designing roads to slow traffic is much more effective. Speed humps are only a cheap retro-fit solution to roads designed without the needs of pedestrians in mind.