XP Home Task Scheduler Error 0x80070005: Access is denied

I tried to manually install my Backup by double clicking Ntbackup.msi file from CD-ROM Drive:\VALUEADD\MSFT\NTBACKUP on my Windows XP Home Edition. There was no problem doing this but later when I was trying to schedule the system for automatic weekly updates, I get an error message saying:

“An error has occurred while attempting to set task account information. The specific error is: 0x80070005: Access is denied. You do not have permission to perform the requested operation.”

I don’t have any idea about this error. Can somebody please provide some advice? Many thanks.

Are you logged in as an Administrator? Also does your admin account have password? If it is not having password than create a password and try again. Make sure to put the correct password when prompted. It should help.