Is the treadmill a good workout for weight loss?

I really want to lose weight before summer is over and i have a gym, but I was just wondering if the treadmill is a good affective way for weight loss. Most of the time I stay on the treadmill for 30-45 mins. For the last ten minuts a increase the elevation to 10 degrees on a speed of 4.5. Is this a good workout?
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