Trying to install Microsoft word 2007? You cannot install Word by itself...It must be accompanied with the rest of the office 2007 programs or use the virtual program at

http://office.microsoft.com/en-us/FX102855291033.aspx

Also that error code sometimes reflects that
1) you must be in admin user to install the program

2) there is a third party program blocking the writing to the registry key...probably a security suite program or anti virus program...

Check out these answers from Microsoft:

You receive an error message when you install an Office program or open an Office program or document