Basically, you want the resistor large enough so that you don't draw enormous current when the transistor is on, and small enough so that the "dark"(off) current won't cause too much drop across the resistor. The data sheet says the sensor has a nominal output current of 1mA and a dark current of . Thus, if you were to use a 10K resistor, the dark current voltage drop would be insignificant (2mV) and the on current would be 0.5mA with a 5 volt supply. Obviously, different supply voltages might necessitate a different resistor. Also, look at figure 7; that shows you what the saturation voltage vs collector current (and emitter current) is
The resistor value might also affect the speed of the device, but the data sheet doesn't even talk about speed, so my guess is it's a fairly slow device.