Joomla Error While Installing a component

Hi all,

I am installing a joomla component com_easydiscuss_community_2.0.3797_paid_j1.5 and it is showing the error
I saw the forums some where and i changed all the directory permissions to 777 and it does not worked again i am getting this error

JFolder::files: Path does not point to a valid folder or the folder has been deleted.
JFolder::folder: Path does not point to a valid folder or the folder has been deleted.
JFolder::files: Path does not point to a valid folder or the folder has been deleted.
Error! Could not find a Joomla! XML setup file in the package.


Can any one help me how to resolve this problem.