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graphic ecualizer design

I have to design a graphic ecualizer in mathlab, so for discrete audio
signals, and i don't know which filters should I choose. I´m going to
select IIR filters because there is no use in considering phase. I
have found some examples that use Butterworth filters for the band-
pass ones and Elliptical for the low-pass, but there is no explanation
on why they are chosen. I would like to employ Chebysev filters
because a lower order is needed and so the computation will be faster.

Could anyone please tell me which sould I choose and why?

P.D: Sorry for my english I know it's not too good.