Hi.
It is a convention to express the value of the voltage or current phasor as the RMS magnitude of it. Much like the passive sign convention, this is widely known and acknowledged in electronics, unless stated otherwise.
That is, if:
[tex]V_{m} \cos ( \omega t + \alpha)<br />
= \Re({V_{m} \cdot e^{j( \omega t + \alpha) } }) = \Re( {V_{m} \cdot e^{j (\omega t) } \cdot e^{j (\alpha )} } ) \underbrace{ \rightarrow }_{\text{Phasor domain/ transform} } \frac{ V_{m} }{ \sqrt{ 2 } } \angle{\alpha}[/tex]
The above is, of course, if you are using the cosine definition of a phasor, you can also use a sine definition in which case the signal would have to be phase shifted to the right by 90 (add - 90 ) to your cosine. The relation between peak and RMS for sinusoids is a result of the evaluation of the integral and using the definition of an RMS signal, the proof can be found online but the main concept is that the RMS value allows comparision with DC signals, as far as resistive elements are concerned.
Formula for average power in the AC domain is:
[tex]\frac{1}{2} \cdot V_{m} I_{m} \cos { ( \alpha_{v} - \alpha_{i} } )[/tex]
Where:
[tex]V_{m} I_{m}[/tex]
Refer to peak values.
When using RMS, V and I become respective values and the equation is :
[tex]V_{rms} I_{rms} \cos { ( \alpha_{v} - \alpha_{i} } )[/tex]
Your answer is correct as far as I know.
If you use peak values, you multiply by a half, and if you use rms, you get the same answer as the square root of two is present in both I and V rms.
Thanks for reading.
KM