Yes you can!  The easiest way is to use the Basic material editor.  When you open the material editor, look at the top title and there is a big button on the upper left.  If you see a bunch of tabs, you are in the Advanced material editor.  Click the button to go to the basic editor (you can go back and forth between basic and advanced).

The basic editor has three squares - one for the picture, bump, and transpanency map.  Just use the little yellow arrow to load up a picture. 

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