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Solve the following problem using Python, implementing the functions described below, one line at a time
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Description:
 def is_time(self):
 """Determine if a data record is of type TIME."""

        dt = DATA_TYPES['time']
        if type(self.data) is dt['type'] and ':' in str(self.data) and str(self.data).count(':') == 2:
            # Separate hour, month, second
            date_split = str(self.data).split(':')
            h, m, s = date_split[0], date_split[1], date_split[2]

            # Validate values
            valid_hour, valid_min, valid_sec = int(h) in HOURS, int(m) in MINUTES, int(float(s)) in SECONDS

            if all(i is True for i in (valid_hour, valid_min, valid_sec)):
                self.type = 'time'.upper()
                self.len = None
                return True