It's simple arithmetic to calculate the size of a theoretical .WAV file. The size, in bytes, is the bit depth divided by 8, multiplied by the sample rate, multiplied by the duration, multiplied by the number of channels.
So if you had an audio clip that was 3:20 long, 44100Hz, 16-bit and stereo, the calculation would be:
sample_rate = 44100 # Hz/Samples per second - CD Quality
bit_depth = 16 # 2 bytes; CD quality
channels = 2 # stereo
duration = 200.0 # seconds
file_size = sample_rate * (bit_depth / 8) * channels * duration
# = 44100 * (2) * 2 * 200
# = 35280000 bytes
# = 35.28 MB (megabytes)
I found this online audio file size calculator which you can also use to confirm your math: https://www.colincrawley.com/audio-file-size-calculator/
If instead you wanted to figure out the other direction, i.e. the size of a theoretical compressed file, it depends on how you're doing the compression. Typical compression, thankfully, uses just a fixed bitrate, meaning the math to figure out the resulting compressed file size is really simple.
So, if you had a 3:20 audio clip you wanted to convert to MP3, at a bitrate of 128kbps (kilobits per second, 128 is a common mid-range quality setting), the calculation would just be the bit rate, divided by 8 (bits per byte) multiplied by the duration:
bits_per_kb = 1000
bitrate_kbps = 128
bits_per_byte = 8
duration_seconds = 200
filesize_bytes = (bitrate_kbps * bits_per_kb / bits_per_byte) * duration_seconds
# = (128000 / 8) * 200
# = (16) * 200
# = 3200000 bytes
# = 3.2 MB