Correct way of referencing equations, figures and tables inline? What is the correct way of referencing an equation, figure of table inline?

I would currently say something like:


  It can be seen from Equation (11) that . . .


or


  Inspection of Figure (3) shows . . .


Is this method—capital letter for Equation/Figure/Table and the actual reference in round brackets—acceptable?
As far as I know, the standard in mathematics is:


Put parentheses around equation numbers; don't use the word "Equation" unless after a period.
"Figure/Table/Algorithm X", with no parentheses. Parentheses are reserved for equations, and square brackets for citations. 


Example:


  This follows from (11). Equation (12) does not hold in this case. See Figure 13 for further information.


In your LaTeX source, use from~\eqref{someref} and Figure~\ref{someother}, with nonbreaking spaces and \eqref for the equations.

(The standard in mathematics is LaTeX; Word is often frowned upon.)

That said, as already stated in aeismail's answer, every journal has its own house style, which may override the standard.

EDIT: see also the answers to Referencing non-equations as to why adding "Equation" is not a good idea: not all numbered formulas are equations.