I think a more appropriate question is "does your boss understand your job". It's not a manager's job to be able to fulfil your role, but it is her job to understand (in a general sense) the tasks which you perform, the complexity of these tasks, and the problems which you face. Also, I think it is a manager's duty to admit where she lacks technical understanding, and to consult the appropriate team members to bridge this gap when necessary.
I am fortunate enough to be employed at a software/engineering company where my managers used to do more or less my job and could probably do most of what I do as well as, or better than, me (same background + more experience). I am only here because they don't have the time.
In the past, I had the misfortune of being employed at a company where my manager had absolutely no idea what my role was, nor did she have even the vaguest sense of the relative complexity of tasks, yet she refused to listen to anyone else's opinion regarding budgets. Very frustrating.