hrodbert696 is basically correct.
Each knob set in the middle of their range is a good start for a "flat" EQ, but keep in mind that any amp will color your bass tone to one degree or another.
Each knob has a benefit when used tastefully and a harm when over used, it is good to get your ears used to the effects.
Bass:
Good: more bass, boom, thump
Bad: Muddy, your playing looses definition.
Mid
Good: more definition, cut , aggression
Bad: can sound too honky/ farty
Treble
Good: more clarity, aggression, permissiveness
Bad: squeaks and clanks, electronic noise, can get too harsh
Please consider the GOAL of using these knobs: To give yourself a tone that CUTS IN THE MIX.
To achieve this, you (and your band mates) must understand your presence in the EQ spectrum. Imagine you're in a band with drums, guitars and keyboards, all making noise and filling up the Sonic space form the low 20hz tones to the high 20,000Hz ones. Your guitarist is not going to fill the exact same chunk of that space as you, but you will overlap quite a bit.
This means your sounds will interfere with each other and each of you will have trouble hearing yourself. For beginners, this leads to "volume wars" with each guy turning up to hear themselves, only to drown out more of their band mates who also turn up.
The solution is to have each instrument adjust their EQ to "slot" themselves in a specific area of that 20Hz-20Khz range. Again, you need your band mates to be on board with this for it to really work. The room you play in will also effect this, but that's beyond the scope of my post
So keep that in mind, here are a few other points to consider:
-Your tone alone in your bedroom is NOT your tone in the mix. Adjust for the band, not your bedroom
-If you want a strong, clear ,
musical bass tone,
don't boost the bass knob. Boost low Mids or Mids for a more defined bass tone.
The lowest frequencies , while boomy and thumpy and powerful, carry very little that the brain can identify as Musical Information.
The low mids are closer to what the brain can interpret as "music"
-More is not always better: Boosting will always color your tone, not always in a good way. Instead of boosting, one knob, consider cutting everything else.
-a good way to educate your ear on what each knob does: turn all the knobs to 0. Start playing and, one knob at a time, sweep the knob across its full range and back down, and
Listen.
-once you get an idea what the knobs do, listen to your favorite bassists and think about what settings they might use. Different Styles tend to favor different settings.