return bool from asp.net mvc actionresult

You could return a json result in form of a bool or with a bool property. Something like this:

[HttpPost]
public ActionResult SetSchedule(FormCollection collection)
{
    try
    {
        // TODO: Add update logic here

        return Json(true);
    }
    catch
    {
        return Json(false);
    }
}

IMHO you should use JsonResult instead of ActionResult (for code maintainability).

To handle the response in Jquery side:

$.getJSON(
 '/MyDear/Action',
 { 
   MyFormParam: $('MyParamSelector').val(),
   AnotherFormParam: $('AnotherParamSelector').val(),
 },
 function(data) {
   if (data) {
     // Do this please...
   }
 });

Hope it helps : )