Though by a strict reading, it wouldn't. Miss chances are specifically called out as miss chances. And miss chances are a percentage.
The subject's outline appears blurred, shifting, and wavering. This distortion grants the subject concealment (20% miss chance).
The subject of this spell appears to be about 2 feet away from its true location. The creature benefits from a 50% miss chance as if it had total concealment.
Total Concealment: If you have line of effect to a target but not line of sight, he is considered to have total concealment from you. You can't attack an opponent that has total concealment, though you can attack into a square that you think he occupies. A successful attack into a square occupied by an enemy with total concealment has a 50% miss chance (instead of the normal 20% miss chance for an opponent with concealment).
Mirror Image, on the other hand, doesn't give a miss chance. It just randomizes the target hit (either the wizard, or one of his images). It doesn't turn a hit into a miss like a miss chance does.