The time-range placeholder represents a time-of-day range.
"time" describes the formats for the start-time and end-time. The dash in start-time-end-time expresses an inclusive range of times.
The time range is local-time based and takes into account Daylight Savings Time, if it applies to your locale. Sample values for time-range include the following:
08:00:00-08:30:00 1430-1530 1430-14:35:30