ANSWERS: 2
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Zipping a .wav file in a zip folder won't do much to reduce the file size. In order to reduce file size of audio in wav format you need to use an audio codec to encode the file in MP3 format.
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Some file types are already heavily compressed (wav and jpg are the two that spring to mind first) and they simply can't be compressed further. As already pointed out by Sketchy Mess if you want to make the file size of a piece of music smaller you'll have to convert it into something like mp3 or ogg vorbis. Bear in mind though that any form of compression involves a loss of information which leads to loss of quality.
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