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"ArcGIS encountered a serious application error" problem

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Hi,

I need to perform regression analysis for some data. Whenever I use Ordinary Least Squares (OLS) tool (spatial statistics tools>Modeling spatial relationships>Ordinary Least squares), initially the tool works fine and generates corresponding output. But after generating output, when I close the OLS process window, there appears an error message "arcgis encountered a serious application error and needs to close" and application get closed. I searched this error on google and came to know that this might be due to file permissions. I couldn't figure this out much as data file on my laptop in .csv file format have full access rights. Is there any solution except re-installing the software? I am using ArcGIS v10.1 on windows 8 (64-bit machine).

Need help!

Jibran

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