Image next to Equation

There are several possibilities. Perhaps the simplest is

\usepackage{graphicx}

...

\begin{tabular}{p{3cm}c}
\begin{equation}
1=1
\end{equation}
&
\includegraphics{mypic}
\end{tabular}

or with align:

\documentclass{article}

\usepackage{graphicx,amsmath}

\begin{document}

\begin{tabular}{p{5cm}c}
{\begin{align}
1&=1\\
11&=22
\end{align}}
&
\includegraphics[draft]{mypic}
\end{tabular}

\end{document}

Instead of using a tabularenvironment to position the objects, there is also the possibility to make the graphics part of the math formula, for example like this:

\[
\begin {aligned}
\vec{a} \bullet \vec{b}& = |\vec{a}| \cdot |\vec{b}| \cdot \cos(\phi) \\
                       & = a_x  \cdot b_x + a_y \cdot b_y + a_z \cdot b_z \\
            \cos(\phi) & =  \frac {\vec{a} \bullet \vec{b}}{|\vec{a}| \cdot  |\vec{b}|}\\
                       & = \frac {a_x  \cdot b_x + a_y \cdot b_y + a_z \cdot b_z}{\sqrt{a_x^2 + a_y2 + a_z^2}\sqrt{b_x^2 + b_y^2 + b_z^2}}
\end {aligned}
\qquad
\raisebox{-15mm}{\includegraphics[keepaspectratio = true, scale = 1] {dotp.jpg}}
\]

The \qquad is used to get some whitespace (2em) and \raisebox is only there is you have to adjust the picture vertically.