For a well lit room, some where between 1/4 second and 2 seconds. To be more sure, you need a meter. If your camera is one with a built in flash you could use it, but I doubt that the flash will illuminate more than the centre of the image.
You need to have the camera on a tripod or otherwise held still for this to work.
EDIT: The Lomo fisheye isn't a good choice to learn how to use film. It is a relatively inflexible special purpose instrument. If you are trying to learn how best to use film, there are many, many options that would be much more likely to satisfy.
If you do pick up some experience and knowledge using something else, you might then want to re-visit the Lomo fisheye, because if you like the fisheye effect, it is a reasonably inexpensive way to experiment with it.

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