What happened is that the Adams installer was stopped before it finished.  The DLL in question was copied to the installation directory but was not registered properly.  Fortunately, there is a workaround that involves copying files so a complete reinstallation isn't necessary.

The MD Adams Student Edition 2011 installer can take 20 minutes or so to run to completion (see KB8020068).  After the application has copied files it write-protects the installation directory to prevent inadvertent deletions by users; this operation can take a minute or two.  When that step is complete the Microsoft Visual C++ 2005 Redistributable will be installed:

During the write-protect operation some users believe the installer has finished so they close that application.  It's also possible that security settings or antivirus software prevent the DLL from being registered.  You could uninstall and reinstall Adams to allow the process to run to completion but that can take 30 minutes or more

The msvcr71.dll file is in the Adams installation directory so a workaround is to make copies of that file and paste them into directories where Adams/View needs the DLL.  If you accepted the default location for the Adams installer the DLL will be in the

C:\MSC.Software\MD_Adams_Student_Edition\2011\win32

folder.  Copy msvcr71.dll from there and paste it into these two locations for 32-bit Windows:

C:\MSC.Software\MD_Adams_Student_Edition\2011\python\win32
C:\WINDOWS\SE2011