Both have an effect. The amount of food has more of an effect, because it's easier to eat 10% fewer calories than it is to burn 10% more calories. The fact that our normal daily activity burns, say, 2000 calories, and running a mile burns roughly 100 calories, you'd have to run 2 miles to burn off 10% ... or you can just put 10% less food on your plate.
Because I excercise, I could eat Pizza, Fried Chicken, Ice Cream and Chocolate and Salty Snacks and still fit into my waist size 30" Levi 511 Skinny Fits and feel great doing so.
My workout:
Stretch
Leg Raises
Crunches
Pilates, if I'm up for that, they go here
Cardio (in any given order):
Treadmill 5 minutes
that's usually 36-76 calories burnt doing this, depending on how fast I have it.
Rowing Machine 2, 000 Metres (This should take people 10 minutes but, I do it in like 8/9 minutes)
like 119 calories burnt doing this
Cross Country Trainer 30 minutes + 5 minutes cool down
like 400 calories burnt doing this
Excercise Bike, I cycle like 6/7 miles on this thing on average.
like 360 calories burnt doing this.
weights:
I like to stretch and tone my muscles, so that's like 25k on my limbs at 25 reps and 35k at 25 reps on my chest; setting 7 on all other presses and curls, assisted sit up I put 10k on.
Stretch
Leg Raises
Crunches
and; again, if I do any Pilates, they'd go here.
I did that today without the Pilates.
I ate but didn't finish an Iceland (supermarket, not the country) microwave Beef Curry, with horrid rice; I like rice, but this microwave stuff just, wasn't to my liking, ate most of the curry sauce and beef and stuff, I ate a bit of the rice, I did try, I even fried a scrambled egg and put that on top, ate the egg and some more rice but the rice tasted like cardboard so I left it and went straight to the gym.