In PHP, how can time values be converted to decimal format accurately, especially when dealing with fractions of hours?

When converting time values to decimal format in PHP, especially when dealing with fractions of hours, it is important to accurately calculate the decimal representation of the time. One way to do this is by converting the time to minutes, then dividing by 60 to get the decimal representation. Additionally, you can use the `strtotime()` function to convert the time value to a timestamp, and then perform calculations on the timestamp to get the decimal representation.

// Example code to convert time value to decimal format
$time = "2:30"; // Time value in HH:MM format
list($hours, $minutes) = explode(":", $time);
$total_minutes = ($hours * 60) + $minutes;
$decimal_hours = $total_minutes / 60;

echo $decimal_hours; // Output: 2.5