Egghead decides that the only way he is going to be successful is through a Boxing Course. He graduates and has to take on champion Biff Stew. Biff destroys him, but by accident he knocks out him out, and then it's revealed that Egghead isn't even fighting Biff but instead got knocked out by practice equipment.
Laserdisc - The Golden Age of Looney Tunes, Vol. 3, Side 8: The Evolution of Egghead
The EU dubbed transfer uses the 1948 ending card while the USA dubbed transfer uses the 1938 ending card.
One of the highlights in this cartoon is the jovial, laughing referee, voiced by Tex Avery:
This idea was later emulated in 1943 by Chuck Jones in "To Duck or Not to Duck" with a duck referee with a similar physique and personality, except that the referee is voiced by Mel Blanc, due to Avery's departure from the studio at the time that cartoon was made.