A cereal box filling machine is designed to release an amount of 16 ounces of cereal into each box, and the machine's manufacturer wants to know of any departure from this setting. The engineers at the factory randomly sample 150 boxes of cereal and find a sample mean of 15.75 ounces. If we know from previous research that the population is normally distributed with a standard deviation of 1.46 ounces, is there evidence that the mean amount of cereal in each box is different from 16 ounces at 0.05 significance? State the hypotheses, list and check the conditions, calculate the test statistic, find the p-value, and make a conclusion in a complete sentence related to the scenario.