Making Sure I Understand Opto Interrupt Sensors

I just got back into Arduino and electronics, and I wanted to make sure I know what I'm doing. I'm working with some coin hoppers that use opto interrupts to detect the coins being dispensed. Below is the schematic of how the sensor is in the hopper. If I understand correctly, I would just supply the 5v and ground as shown, and then I would need a pull up resistor on the signal pin, correct?

Completely correct!

Just check the Current Transfer Ratio to calculate the pullup resistor.