Which version of Premiere Elements are you installing? Are you installing from boxed set disc or from a download? Have you tried downloading the latest version from the Adobe site?
What operating system are you working on? What computer processor to you have and how much RAM?
At what point do you get the error code?
Error code 6 is usually related to a device installation, not a software installation. Have you ensured that you have the latest updates for your operating system?