How the sizing works
The cycle volume is the volume between the pump start and stop levels. It is sized so a pump running at its duty flow does not start more often than allowed: V = T × Q / 4, where T is the minimum cycle time (3,600 seconds divided by the starts per hour) and Q is the pump flow.
Emergency storage is the average dry weather flow multiplied by the storage time your water authority specifies. It can sit in the wet well, in the incoming sewer, or in a separate emergency storage tank.
Standard Mullaly pump stations come in seven diameters from 1.5m to 3.75m (ME150 to ME375), 2m to 14m deep, and larger stations are engineered to project. This is a first pass for early planning. Your design will follow your water authority's code, for example WSA 04.
Pump station design guide