Step 1: Understanding the concept.
In an ideal Continuous Stirred Tank Reactor (CSTR), the residence time distribution follows an exponential decay. The time for the exit concentration of a pulse tracer to reach half of its initial value is linked to the residence time, and it can be derived from the first-order decay equation.
Step 2: Applying the formula.
For an ideal CSTR, the time taken for the concentration to drop to half is given by:
\[
t_{\frac{1}{2}} = 0.693 \times t
\]
Where \( t \) is the mean residence time.
Step 3: Conclusion.
The time for the exit concentration of the tracer to reach half of its initial value is \( 0.693t \). Thus, the correct answer is \(\boxed{0.693t}\).