What is the significance of the set_time_limit function in PHP, and how does it relate to the Maximum execution time error?

The set_time_limit function in PHP is used to set the maximum execution time for a script. This function can be used to prevent the script from running indefinitely and causing performance issues. When the maximum execution time is reached, PHP will throw a Maximum execution time error.

// Set the maximum execution time to 30 seconds
set_time_limit(30);