You need to have some idea about the behavior of whatever function you are using. As an example, if your function is f(x) = x2, you probably know that the lowest value this can have is 0 (for x = 0), and that for other values of x, the function will be positive. Also, that the function can achieve any positive value. So, in summary, for the set of real numbers, the function can take on any value greater or equal to zero. As another example, the sine function can only produce values between -1 and 1 (inclusive).
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Find the smallest and the largest values/numbers. These form the range.
You find the minimum and the maximum values that you expect to see and set the range so that it contains this range with some leeway.
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The range of a set of numbers is the largest minus the smallest. Whether it is an even set or odd is totally irrelevant.
Take the smallest value and subtract it from the largest value and that is the range.