More and more the evidence is showing that exercising in general is not nearly as effective as diet for losing weight. As in it's the 20 in the 80-20 rule.
But it's good for building endurance and overall health...
You don't burn all that many calories while exercising. But I think the follow-on effects help you lose weight.
Exactly. You accelerate your resting metabolic rate, meaning you burn more calories during the time when you're not active.
Here's the thing. If you are obese and don't exercise, you will start to see results quickly if you do something as simple as walking and eating healthy. And again, one of the best ways to speed up your metabolism is weight training.
Also, don't focus on the number so much as how you look and feel, esepecially the feel part. Muscle ways more than fat so keep that in mind.
And watch some episodes online of this past season of The Biggest Loser. It's pretty great, actually, if you're interested in weight loss.