Some comments:
What you call "captions" of equations appear to be, in LaTeX jargon, nothing but \paragraph-level headers. To wit, it's straightforward to replicate the "look" of your textbook using \paragraph instructions; see also the code below.
Use of the \paragraph approach provides a high degree of flexibility of where page breaks may occur. With an align-based approach, you'd have to worry about where to allow page breaks.
In your textbook excerpt, the equations do not appear to be aligned relative to each other. Put differently, they are individually and independently centered on their respective lines. I suggest you use individual equation environments.
Aside: Since "IQR", "MAD", and "Median" would appear to be operators (in the TeX/LaTeX sense of the word), they should be typeset in upright letters. The amsmath package lets you create math operators via the \DeclareMathOperator directive. By the way, \max is already defined -- use it!

\documentclass{article}
\setcounter{secnumdepth}{4} % default is "3" for article document class
% Paragraph-level headers: italic, not bold
\usepackage{sectsty}
\paragraphfont{\mdseries\itshape}
\usepackage{amsmath} % for \DeclareMathOperator and \numberwithing macros
\DeclareMathOperator{\IQR}{IQR}
\DeclareMathOperator{\Median}{Median}
\DeclareMathOperator{\MAD}{MAD}
\numberwithin{equation}{section}
\begin{document}
% Just for this example:
\setcounter{section}{2}
\setcounter{subsection}{2}
\setcounter{subsubsection}{23}
\setcounter{equation}{36}
\paragraph{Interquartile range}
\begin{equation}
c_{i,p} = \frac{c_{i,p}}{\IQR(c_{i})}\label{eq:1}
\end{equation}
\paragraph{Median}
\begin{equation}
c_{i,p} = \frac{c_{i,p}}{\Median(c_{i})}\label{eq:2}
\end{equation}
\paragraph{Minimum absolute distance}
\begin{equation}
c_{i,p} = \frac{c_{i,p}}{\MAD(c_{i})}\label{eq:3}
\end{equation}
\paragraph{Max 1}
\begin{equation}
c_{i,p} = \frac{c_{i,p}}{\max(c_{i,p})-c_{i,p}}\label{eq:4}
\end{equation}
\paragraph{Max 2}
\begin{equation}
c_{i,p} = \frac{c_{i,p}}{\max(c_{i,p})-c_{i,p}}\label{eq:5}
\end{equation}
\end{document}
\listoffigures. Can you elaborate? Perhaps draw a picture showing your expected output? – Werner Aug 24 '16 at 18:14\intertextto break up the align with text. – Steven B. Segletes Aug 24 '16 at 18:46LoF? What's the purpose of that? – Aug 24 '16 at 18:53alignblock with text. I guess some clarification from the OP would help. – Steven B. Segletes Aug 24 '16 at 18:55\Psi-cho-analysist;-) – Aug 24 '16 at 19:50