This error occurs when the event log service is turned off (set to manual or disabled). To correct, do the following:
Start, Run and type in “services.msc”
Go to the “Event log” service and double click on it.
Set it to “Automatic” and click on OK.
Now you should be able to set the “Task Scheduler” service to automatic without error. OK your way out of all boxes and close the services window.