the equalization refers as the tone shaping in term of frequencies and not the other knobs like gain for example. an onboard preamp with bass/treble is a part of the equalization too, same things with pedals and obviously the amp.
the settings vary from one amp to another and one bass to another. what Josh said in the course is the right way to do when you don’t know an amp : everything in the middle, and then you can make some corrections if needed. I don’t know how to answer your question as my settings may greatly vary, depending on the context.