Final answer:
The information provided does not state the name of the woman who directed Paramount Studio's first sound film, but highlights the significant contributions of Alice Guy as the first female filmmaker. Paramount Studio, part of the Hollywood 'big five', would have engaged in creating talkies following The Jazz Singer's success.
Step-by-step explanation:
The woman chosen to direct Paramount Studio's first sound film was not specifically mentioned in the given information. However, it is important to note that during the early development of the film industry, Alice Guy blazed the trail for women in film, becoming the world's first female filmmaker and producing over four hundred films for Gaumont studio. Paramount Studio, which was one of the 'big five' motion picture studios in Hollywood alongside Warner Brothers, would have been part of the industry's transition to sound films in the late 1920s.
The New York release of The Jazz Singer in 1927, a product of Warner Brothers, marked the decline of silent movies and the rise of the 'talkies', which might suggest Paramount followed soon after with its own efforts in sound film directed by similarly talented individuals from that era.