u:\Hyperion\biplus\bin>schedulebatch c:\test.xml SERVERNAME
this command looks fine.
Try keeping test.xml in \Hyperion\BIPlus\bin location & run above command (remove C:\)
If still you are seeing the issue, it might be issue due to missing some files.
there may be some files missing related to JRE that comes with Hyperion.
In the XML file, update the below lines with user name and encoded password generated by running below command :
<DATA_SOURCE_USER_CREDENTIALS DS_PASSWD="" DS_USER_NAME=""/>
<HR_USER_CREDENTIALS HR_PASSWD="" HR_USER_NAME=""/>
Updated lines could look like :
<DATA_SOURCE_USER_CREDENTIALS DS_PASSWD="encodedPASSWORD" DS_USER_NAME="USERNAME"/>
<HR_USER_CREDENTIALS HR_PASSWD="encodedPASSWORD" HR_USER_NAME="USERNAME"/>
Run the scheulderbatch.cmd again and check.
Hope this helps.