Delay when taking picture.

This is a common situation with almost all point-and-shoot cameras. The delay is because the camera has to do so much when you push the button. Bulkier and more expensive SLRs eliminate the delay by having more hardware to handle the various tasks.

You can reduce the delay by anticipating the action. If you know where the action is going to happen (a child blowing out the candles on a cake, or right in front of a soccer goal, for example) aim the camera there and press the shutter button halfway and hold it there. This meters the exposure and focuses the lens. Then when the action finally happens, press the shutter button the rest of the way. With the camera having done most of the work when you pressed the button halfway, there will be much less delay.

Again, the delay is a basic "feature" of the camera design. It can't be completely eliminated, but by pressing the shutter release halfway it can be reduced.

Manual:
http://www.kodak.com/global/plugins/acrobat/en/service/manuals/urg01041/C182_xUG_GLB_en.pdf

Page 11

Using the self-timer
Use the self-timer when you want to be included in a picture, or to ensure a steady
Shutter button press. Place the camera on a tripod or flat surface.
1 In any picture-taking mode, press the Info button to turn on the shortcut icons.
2 Press to highlight the self-timer icon. Press to choose a setting:
10 seconds- A picture is taken after a 10-second delay (so you have time
to get into the scene).
2 seconds- A picture is taken after a 2-second delay (for a steady, shutter
release on a tripod).
2 shot- The first picture is taken after a 10-second delay. A second picture
is taken 8 seconds later.
3 Compose the scene. Press the Shutter button halfway, then completely down.
The camera takes the picture/pictures after the delay.
Use the same procedure to take a 2- or 10-second self-timer video, but press the
Shutter button completely down.

The Calculator has a feature that takes it into standby after a certain delay of inactivity. Possible values of the delay are 1 min, 3 min, 5 min, 10 min, and 30 min.
In view of this, your 3 sec value seems too short. I suspect that the batteries are depleted.

In OS 2.x, press 5: Settings & status, then 3:Handheld Setup. Look for drop down box to the right of Power Standby, and select a longer delay.

Press the 4-way switch downwards to cycle through the selftimer modes: First press shows the selftimer symbol, which means 10 secs delay, next press shows selftimer2 symbol, which gives 2 secs delay. When delay is set, press the shutter button to take the picture. The selftimer lamp will blink untill the picture is taken.

you might have switched the shooting process to timer mode. please refer the instruction manual to change it back to normal mode.normally there will be button near the lcd screen with the symbol of a timer deviice. if you click it once it sets the delay of shot to 2 sec and for the second time to 10 secs.and for the third time, it goes back to normal mode. thanks for using fixya. please dont forget to rate my solution!!!

Press the shutter button halfway to focus, then when the subject is in a pose you like press it fully to take the picture.  If you just press the button without stopping halfway, the camera needs to focus, that is most likely causing the delay.
Taking a picture 
http://www.kodak.com/global/en/service/publications/urg00330toc.jhtml?pq-path=10/3905/6594/6607/6629

Yes, SIR! ;-)

1. Press the Func/Set button.
2. Scroll down to the Drive Mode icon (rectangle) on the left side.
3. Scroll over to 2 sec or 10 sec delay icon (clock with 2 or 10)
4. Press Func/Set button.

To return to normal shooting, select the single shot (rectangle) icon in step 3.

1. Make sure the camera is in shooting mode (silhouette of camera)
2. Press Func/Set button
3. Scroll down to Drive Mode icon (usually single square)
4. Use left/right arrow to select 2-sec or 10-sec delay (clock with 2 or 10 next to it)
5. Press Func/Set button

Now whenever you press the shutter button, the camera will delay 2 or 10 seconds before snapping the picture. Remember to set back to single shot (single square) or continuous shooting (three overlaid squares) mode when done.

Check to see if the self-timer is on. You can set the timer to 0, 2, or 10 sec. A 2 sec. delay will help to prevent blurry pictures. But setting the self-timer to 0 will take the picture as soon as you push the button.

1. Press the Func/Set button
2. On the left side of the LCD, scroll down to Drive Mode icon (usually a square, third item down)
3. Use right arrow key to select clockface with 2 (2 sec delay) or 10 (10 sec delay)
4. Press the Func/Set button

Now whenever you press the shutter button, the camera will delay 2 or 10 seconds before a picture is taken. Use the same steps to go back to normal (square icon) drive mode.