You should usually avoid creating images for certain screen sizes to make them background, because there are thousands of different devices and you would have to create dozens of such images.
The first thing you need to be aware of is screen density.
Generally you create 3 to 5 images when not even looking at screen size: low (120 dpi), medium (160 dpi), high (240 dpi), extra high (320 dpi) and 2*extra high (480 dpi). These go into drawable-Xdpi folders, where X is one of l, m, h, xh, xxh.
Next thing when you want to have bigger images on bigger screens (bigger phones, small and big tablets), you may want to put images to folders like drawable-sw600dp-Xdpi. This is not a case for your phone.
Nexus 4 is a xhdpi 640x384 dp device, but you should not treat it differently than Samsung Galaxy S2 (hdpi 533x320 dp).
Create an image of smaller size for both phones and center it horizontally. E.g. 320x100 px for mdpi, 480x150 px for hdpi and 640x200 px for xhdpi (your phone).