WARNING - requires VCE Specialist Mathematics knowledge
(posting by request)
A sinusoidal AC supply has the voltage
 = V_m \sin (\omega t + \phi))
, and current
 = I_m \sin (\omega t + \phi))
(voltage and current have the same phase and frequency) [

, where T is the period,

is the initial phase and

are the peak voltage and current]
Its power is hence
 = V_m I_m \sin^2 (\omega t + \phi))
.
The average power output can be given by
\; dt}{T})
, where T is the period.
) \right]_0^T = \frac{V_m I_m}{2})
That is, a DC signal with

and

could produce the same power output.

However, in an AC signal, the voltage varies with the current (

), hence, this becomes
 = \frac{V_m (k\cdot V_m)}{2})

, where V
m is the peak voltage
The word 'root mean squared' comes from this process, the voltage is squared, the mean of the squared voltage is taken, the square rooted to give the 'average' voltage. (which essentially is what's happening here, as the current is directly proportional to voltage)
Therefore,

,

(and the same for current)