In the precision measurement of the voltage standing wave ratio (VSWR) or reflection coefficient by means of the slotted line technique, one of the important factors is the maximum error due to the discontinuities and multi-reflection in the slotted line. Particularly, this error becomes a critical factor when the VSWR or the reflection coefficient to be measured is very small. In this paper, the exact expression of this error is obtained by means of the Signal flow graph method.