Yes, OUTLOOK is a Scrabble word!

Letter values in Scrabble US: O 1, U 1, T 1, L 1, O 1, O 1, K 5.

Is it a valid word?

OUTLOOK is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

a habitual or characteristic mental attitude that determines how you will interpret and respond to situations
belief about (or mental picture of) the future
the act of looking out

Also: mind-set.